FBR decides to extend deadline for VTCS

ISLAMABAD: The Federal Board of Revenue (FBR) has decided to extend the date for Voluntary Tax Compliance Scheme (VTCS) after the target it had set could not be achieved.According to sources at FBR, despite the launch of VTCS the set targets could not be achieved, as only 305 businessmen filed tax returns by February 26.The sources further said that two recommendations were being chalked out for extending last date of the scheme. One suggests its extension till March 15 while the other proposes March 31 as its new deadline.The final decision in this regard is expected to be made during the meeting of Economic Coordination Committee (ECC) which will be held either on February 29 or March 1.