The Federal Board of Revenue (FBR) has extended the date for updatingtaxpayers’ profile for the second time.
According to the details, the FBR has issued a circular according to whichthe last date for updating the profile of taxpayers has been extended tillJune 30, 2021.
The circular further added that the tax profile must be updated inaccordance with the rules and regulations.
Federation of Pakistan Chambers of Commerce and Industry (FPCCI) HanifLakhani, Senior Vice Chairman and Vice President, Pakistan Yarn MerchantsAssociation (PAIMA), Farhan Ashrafi, Vice Chairman and Convener of PAIMA,FPCCI Yarn Trading Standing Committee demanded the Chairman Federal Boardof Revenue to extend the date for updating taxpayer profile by 6 months sothat taxpayers can easily update their profile.
The Federal Board of Revenue has instructed the taxpayers to update theirprofile by March 31, 2021, and also hinted that if the taxpayers open newbank accounts within the stipulated date, If the address, business changeinformation is not updated, their name may be removed from the ActiveTaxpayer list, which has caused a wave of concern among honest taxpayers topay their taxes on time and submit their income tax returns.
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He said that in view of the third wave of COVID-19 and most of the citiesof the country including Karachi, a smart lockdown is imposed in view ofprecautionary measures against Coronavirus. In this situation, it is verydifficult for the taxpayers to update the tax profile immediately as theyhave to understand it first and then update the profile with all therequired information for which they must get some time.
Hanif Lakhani and Farhan Ashrafi demanded from the Chairman FBR that inview of the third wave of Coronavirus and the precautionary measures takenby the government to prevent it, facilities should be provided for thetaxpayers and the deadline of updating taxpayers’ profile should beextended in view of their difficulties.
The update date should be extended by 6 months so that the maximum numberof taxpayers can update their profile with the required information entryand avoid being excluded from the active taxpayer list even after payingtax.
