ISLAMABAD: Federal Board of Revenue has received as many as 2322 returns so far from different cities of Punjab and Khyber Pakhtunkhwa under Voluntary Tax Compliance Scheme (VTCS), announced by the government for traders.
According to FBR data, as many as 957 VTCS returns were received by RTO Lahore with tax collection of 69.139 million. Similarly, an amount of Rs 68 million was received in RTO-II Lahore where as many as 621 returns were filed under the VTCS.
The RTO Islamabad received as many as 77 returns under VTCS and collected Rs 6.409 million, the data revealed. Similarly, 183 VTCS returns were received in Multan with tax of Rs 19.430, while 205 VTCS returns were received from Sialkot with collection of 21.018 million.
The FBR collected tax of Rs 27.2 million through 220 returns under VTCS in Bhawalpur while Rs 5.102 million was collected in RTO Peshawar where 59 VTCS returns were filed.
It is pertinent to mention here that the FBR further extended the date for filing of tax returns for non-filers from March 15 to March 31 to facilitate traders under VTCS.
The FBR also extended the date of filing returns for individual filers to March 21 (Monday). However, Withholding Tax (WHT) would be charged from the non-filers on bank transactions at the rate of 0.4 per cent instead of 0.3 per cent till March 31.
There would be no further extension in the date for filing returns and the non-filers would be charged WHT at the rate of 0.6 per cent after March 31, official sources said. The FBR has asked the non-filers to take benefit of the VTCS and file their returns within the due date.
