Newly elected President of Lahore Chamber of Commerce and Industry (LCCI), Ali Hassam Asghar, here Wednesday urged the Federal Board of Revenue (FBR) and the federal government to extend the deadline for filing income tax returns for Tax Year 2026 by at least one month, preferably until October 31, 2026.
LCCI demands one-month extension in tax return filing deadline
LAHORE, Sep 30 (APP): Newly elected President of Lahore Chamber of Commerce and Industry (LCCI), Ali Hassam Asghar, here Wednesday urged the Federal Board of Revenue (FBR) and the federal government to extend the deadline for filing income tax returns for Tax Year 2026 by at least one month, preferably until October 31, 2026.
He said that granting additional time would provide much-needed relief to taxpayers and enable a greater number of individuals and businesses to file their tax returns accurately and within the legal framework.
He said, business community was currently facing challenging circumstances as the business costs in the country were already high, while uncertainty in global trade and economic conditions had further complicated the operating environment.
He pointed out that geopolitical tensions, changing tariff policies and disruptions in global supply chains were creating significant challenges for international trade. The World Trade Organization (WTO) had also recently warned about the serious economic consequences that increasing fragmentation of the global trading system could create.
“In such circumstances, it is essential for Pakistan to strengthen the competitiveness of its businesses and facilitate individuals and enterprises which are willing to comply with tax laws,” he said.
Ali Hassam Asghar stressed that government’s objective should be to broaden the tax base and encourage voluntary compliance among taxpayers as businesses were ready to fulfill their legal obligations.
He said a reasonable extension would give taxpayers sufficient time to prepare and submit complete and accurate returns instead of forcing them to file in haste or face penalties because of incomplete documentation.
The LCCI President clarified that extending the return filing deadline would not constitute any tax relief, exemption or waiver of taxes payable. Rather, it would simply provide taxpayers with additional time to properly fulfill their legal and tax obligations.
He said that facilitating taxpayers would also help strengthen mutual trust between tax authorities and the business community, which could ultimately improve compliance with tax laws.
He further pointed out that the FBR had, in the past, extended income tax return filing deadlines in response to requests from business organizations, tax professionals and the general public.
The LCCI President said that the government was already taking measures to document the economy and increase the number of active taxpayers. These efforts could become more effective by ensuring greater facilitation, simplifying procedures and providing taxpayers with adequate time to comply with tax requirements.
He emphasized that businesses should be encouraged to become part of the formal tax system and remain compliant rather than face avoidable difficulties in meeting return filing requirements.
Ali Hassam Asghar urged the federal government and the FBR to immediately extend the deadline for filing Tax Year 2026 income tax returns from September 30 to at least October 31, 2026, enabling taxpayers to submit their returns accurately and completely while allowing the FBR to ensure more effective implementation of tax laws.
