Staff Reporter Islamabad
President, Islamabad Chamber of Commerce & Industry (ICCI) Sardar Yasir Ilyas Khan has lauded the decision of FBR for extending the deadline to furnish the taxpayer profile up to 30th June 2021 as it would reduce pressures on taxpayers by giving them more time for preparation of their profiles.
However, he urged that FBR should simplify the taxpayer profile as it required extensive information including mandatory submission of bank account detail, business premises detail and utility connections detail that would be a very cumbersome exercise for the taxpayers and would consume a lot of their time in its completion.
While presiding over a meeting of business community at ICCI here on Wednesday, he said that the business community has been demanding of the FBR since long for developing a simplified and easy taxation system to enhance tax compliance as the current complicated tax system was a major hurdle for many potential taxpayers to come into the tax net.
However, instead of focusing on simplifying the tax regime, FBR has developed a tax profiling system, which has made the tax payment obligation more difficult for taxpayers.
Sardar Yasir Ilyas Khan said that many members of the business community were already finding it very difficult to complete the filing of online income tax returns and were demanding for the development of a one pager tax return form in Urdu to facilitate them.
He said that instead of making things easy for taxpayers, FBR has come up with the requirement of taxpayer profile that would make their job more difficult to complete.
He stressed that FBR should revise its decision and focus on a simple and short version of taxpayer profile for promoting ease of doing business.