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Business

FBR called on to extend return date in case of trouble

KARACHI: As the Federal Board of Revenue (FBR) has recommended using the IRIS website to file tax returns and verify tax deductions, businesses in the community are still facing issues in filing tax returns. Some traders have complained to the chamber that the FBR’s taxreturn filing portal is not working properly. Due to this, tax documents are still cumbersome for common people. Screenshots of the IRIS portal error and FBR server unavailability were also shared. Months based on special conditions to help the system manage high volume and traffic.  It is in the country’s interest to help as many citizens as possible file their tax returns. He added that the more inclusive, legal and documented Pakistan’s economy is, the more open it will be to external financing from international financial institutions and lenders. Reduce human involvement, save taxpayers’ time and resources, reduce data errors, improve process and efficiency, and reduce complaints, evasions and vice versa. One important step has been omitted: the deadline for filing returns under section 34A(2)(e), (3) and (4), which states that electronic returns and the return book must be prepared and filed by 1 January 2024.

Business

The Pakistan Government Removal of minimum  price for grain exports

The federal government has lifted the minimum price of rice, the state channel reported on Saturday.  The Ministry of Commerce and Industry has issued a notification to lift the minimum price of rice. On the  instructions of Federal Minister for Commerce Jam Kamal Khan, the minimum price for rice exports has  been lifted with immediate effect.  According to the Ministry of Commerce, after the end of the minimum price of rice, Pakistani rice exporters will be able to compete better in the global market. The Ministry of Commerce said that with this  measure, Pakistan could earn up to $5 billion from rice exports. Upon the request of the Rice Exporters  Association, the Ministry of Commerce issued a circular to abolish the minimum price.