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PR No.123 Islamabad: March 15, 2016

A delegation of traders and members of business community had a meeting with Finance Minister, Senator Mohammad Ishaq Dar here on Tuesday.

Special Assistant to Prime Minister on Revenue, Mr. Haroon Akhtar, Parliamentary Secretary on Finance, Rana Mohammad Afzal, MNA Mian Abdul Manan and Chairman FBR, Nisar Mohammad Khan were also present.

The delegation discussed with the Minister matters regarding extension in period of concessionary rate of withholding tax and extension in the due date of filing tax returns. They said that in view of numerous requests made by traders bodies and other taxpayers, the last date for filing of tax returns may be extended. They also requested consideration for further extension in the period of concessionary rate of withholding tax.

Finance Minister, Senator Mohammad Ishaq Dar on this occasion said that the government fully believed in providing maximum facilitation to tax payers. In that spirit it was decided to extend the date for filing of income tax returns/statements by individuals and associations of persons to 21st March 2016. While the last date for filing of tax returns for traders under the Voluntary tax compliance scheme was extended to 31st March 2016.

The Minister in his capacity as Chairman ECC accorded anticipatory approval for extension in the period of concessionary rate of 0.4% withholding tax on banking transactions by non-filers up to 31st March 2016.

The meeting was attended by senior officials of the Ministry of Finance, FBR, traders and representatives of the business community

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