Treasure Magazine

Treasure Magazine

PYMA plea to extend the date for updating taxpayers’ profiles

2 min read
Taxpayers

KARACHI: Hanif Lakhany, Vice President, Federation of Pakistan Chambers of Commerce & Industry (FPCCI) & Senior Vice Chairman Pakistan Yarn Merchants Association(PYMA) and Vice Chairman Farhan Ashrafi & convener FPCCI’s Central Standing Committee on Yarn Trading, has asked the Chairman Federal Board of Revenue(FBR) to extend the date for updating taxpayers’ profiles by 6 months, so that Taxpayers can easily update their profiles.

In a statement on Thursday, they said that Taxpayers advised to update their profile with various information such as bank accounts, utilities, etc. If failure to file the prescribed form will also trigger the penal provisions, as well as the exclusion of the taxpayer from the Active Taxpayer List (ATL) list. This has led to a wave of concern among honest taxpayers.

“Smart lockdown is underway in view of the third wave of Code 19 and precautionary measures in the most cities of the country including Karachi. In this situation, it is very difficult for taxpayers to update their tax profile immediately till 31 March, as first they have to understand it and then they have to update the profile with all the required information for which they must get some time”, they added.

Hanif Lakhany and Farhan Ashrafi demanded the Chairman FBR that in view of the 3rd wave of COVID-19, make it easy for the taxpayer and keeping in view their difficulties, the date for updating the taxpayers’ profiles should be extended by 6 months, so that taxpayers can update their profile with the required information and avoid being excluded from the Active Taxpayer List (ATL) list even after paying taxes.