LCCI Demands One-month Extension in Income Tax Return Filing Deadline
Lahore Chamber of Commerce & Industry (LCCI) Urges for Extension
Lahore, (APP - UrduPoint / Pakistan Point News - 15th Sep, 2026)
LCCI President Faheem Ur Rehman Saigol has called upon the Federal Board of Revenue (FBR) and the federal government to extend the deadline for filing income tax returns for Tax Year 2026 from September 30 to at least October 31. He argues that this additional time will benefit taxpayers and encourage compliance.
Saigol highlights the challenging business environment, with high operating costs and uncertain international trade conditions. Global trade faces significant issues due to geopolitical tensions, changing tariffs, and supply chain disruptions, as noted by the World Trade Organization (WTO). He emphasizes the need for Pakistan to strengthen business competitiveness and facilitate taxpayers.
The LCCI President explains that taxpayers, especially small and medium-sized businesses, sole proprietors, professionals, and individuals, require more time to gather financial records, reconcile accounts, and complete their returns through the FBR's online system. With the September 30 deadline approaching, many taxpayers are still in the documentation process.
He suggests that the government's focus should be on broadening the tax base and promoting voluntary compliance rather than creating obstacles for taxpayers. An extension would allow accurate and complete returns, avoiding penalties for incomplete documentation.
Saigol clarifies that this extension is not a concession or waiver of tax liability but merely provides more time for proper compliance. He references past FBR extensions for Tax Year 2025, first to October 15 and then to October 31, in response to similar requests.
Furthermore, Saigol notes that facilitating the process can build confidence between tax authorities and the business community, potentially leading to better compliance. He stresses that adequate time for compliance would support the government's efforts to document the economy and increase active taxpayers.