UNISAME URGES FBR TO EXTEND DATE OF VTCS TILL 30TH JUNE 2016

The Union of Small and Medium Enterprises has urged the chairman Federal Board of Revenue (FBR) to extend the return filing date up till 30th June 2016 and also to modify it to include manufacturers.

President UNISAME Zulfikar Thaver said the FBR has seen the poor response mainly due to lack of proper promotion and also lack of clarity.

The sector feels this is a trap and the amnesty given is not generous enough as the applicant will have to pay increased taxes in the following years.

Thaver said the FBR needs to discuss the matter with the Income Tax Bar Associations and the UNISAME Council to ensure its success based on trust and confidence.

Thaver said we are keen to see that the scheme succeeds and it is a sincere effort to gain the confidence of the traders, manufacturers, service providers and consultants. It has to be a friendly scheme and not burdensome in the years to come.

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