Key Takeaways
- FPCCI requests federal government to extend income tax return filing deadline.
- The new deadline would be October 31, 2026.
- FPCCI aims to ease the burden on trade and industry.
The Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has urged the federal government and the Federal Board of Revenue (FBR) to extend the deadline for filing income tax returns by one month, moving the cutoff date to October 31, 2026.
In a statement, FPCCI highlighted the need for this extension to facilitate trade, industry, and other tax filers, who are currently facing challenges in meeting the existing deadline.
The move is seen as a strategic initiative to provide much-needed relief to businesses and individuals, ensuring smoother financial processes and reducing the administrative burden.
According to the FPCCI, the current deadline has been causing significant inconvenience, particularly for small and medium-sized enterprises (SMEs) that are already grappling with financial constraints.
The extension would allow businesses to prepare their returns more comprehensively, ensuring accuracy and compliance with tax regulations.
FPCCI has emphasized the importance of this extension in maintaining the stability and growth of the economy, especially in light of ongoing economic challenges.
The federal government and FBR are yet to respond to FPCCI's request, but the industry body remains hopeful that their concerns will be addressed promptly.
FPCCI's demand for an extension is part of a broader effort to streamline the tax filing process and enhance the overall business environment in Pakistan.
