MULTAN: Multan Tax Bar Association (MTBA) Requests Extension for Submission of Balance Sheets.
The Multan Tax Bar Association has formally requested an extension for the submission of balance sheets, as mandated by the recent directive issued by the Federal Board of Revenue (FBR) under S.R.O. 350(I)/2024, dated 07 March 2024.
The directive requires registered individuals, associations of persons, and companies with a single shareholder/member (excluding manufacturers) to submit their balance sheets within 30 days of the notification, with the deadline set for 06 April 2024.
However, the association has highlighted a critical issue the absence of a submission option on the FBR’s official website. This technical glitch has left taxpayers unable to comply with the requirement, causing widespread confusion and inconvenience.
With only one day remaining before the deadline, it is deemed impractical for taxpayers to meet the submission deadline given the technical challenges on the FBR’s platform.
In light of these circumstances, the Multan Tax Bar Association, representing the wider taxpayer community, has submitted a formal request for a 30-day extension. This additional time would allow the FBR to address technical issues and provide taxpayers with a fair opportunity to fulfill their obligations.
The association trusts that the FBR will understand the plight of taxpayers and take swift action in granting the extension, thereby easing the burden on taxpayers and ensuring compliance with the new directive.
The president, Mian Abdul Sattar, and the general secretary, Muhammad Imran Ghazi, have emphasized the importance of prompt attention to this matter and expressed gratitude for any cooperation received. They have also offered their willingness to engage in further discussions or provide clarifications as needed.
The request for an extension reflects the commitment of the Multan Tax Bar Association to advocate for the interests of taxpayers and promote fair and efficient tax administration.
