The Rawalpindi Chamber of Commerce and Industry (RCCI) demanded the FBR extend corporate taxpayers’ grace period for over Rs 250,000 business-related payments. In a statement Sunday, President RCCI Nadeem Rauf said that the November 1 deadline for digital payment mode should be extended, adding that banks could not adopt digital payment methods while the corporate sector also does not have the required information and preparation. He said that the business community was not against documenting the economy, but the ground reality also needed to be examined. “The new procedure should be implemented in stages,” he suggested. Nadeem Rauf said the procedure was being implemented through a presidential ordinance. However, the assembly had not yet extended the ordinance, leaving the business community facing a precarious situation. It may be recalled that according to a statement issued by the FBR, significant changes have been introduced in the tax laws third amendment Ordinance 2021 aimed at documenting the economy and bringing the supply chain into the tax net. Under the new procedure, the business community can repay expenses by check, pay order, bank draft or banking method. However, from November 1, they will have to disclose their outlays through the digital banking method.