Author: Faisal Shahnawaz

ISLAMABAD: Dr. Muhammad Ashfaq Ahmed, Chairman, Federal Board of Revenue (FBR), has advised taxpayers to file annual income tax returns timely.

In the newsletter for July – August, the chairman said that timely uploading of Income Tax Form this year is appreciable activity and must continue in future as well. The taxpayers’ would optimistically, take benefit of it this year and would file their returns timely.

The FBR has uploaded the Income Tax Return Forms for Tax Year-2021. Separate Return Forms for Salaried, Association of Persons and Business Individuals have been uploaded.

The Income Tax Returns can be filed through web portal and Tax Asaan application.

The taxpayers are provided guidance on filling all the required particulars in the form. The Income Tax Returns can be filed online through smart phones by installing the Tax Aasaan application from Google play store. In this regard, a media campaign would also be launched for awareness and education purposes.

The taxpayers can file their Income Tax Returns till September 30, 2021.

The FBR chairman said that the revenue body starts the fiscal year with laurels of 23 per cent growth by collecting Rs850 billion during July and August 2021.

This historical growth coupled with reforms, enforcement and compliance strategy would further take the revenues to the optimum level. There is no doubt that governments’

policies for economic growth and revival are bearing fruit. For broad spectrum national economic growth, curbing tax evasion and broadening the base by establishing linkages with the provincial governments, is imperative.

That is why, provincial governments have been offered proactive and technical collaboration especially in the agriculture sector, as many declare their agriculture income in federal ITRs.

The launching of, Single Identifier Number for all domestic taxes which is linked with the CNIC, and Alternate Delivery Channel (ADC) by which any federal tax or duty may be paid without physical visit of the bank shows the enduring commitment of FBR for ‘ease of doing businesses’.

It is heartening to note that scheme for new Export Facilitation Scheme 2021 has been approved by the Government and adopted by the parliament vide the Finance Act 2021.

The issuance of rules would impact certainly in reducing the cost and create the ease of doing business and improve compliance.

Be it the international cooperation for exchange of technical experiences or creating friendly environment with the business communities, FBR has always welcomed all stakeholders including the business chambers as vital players.

No extension in return filing date for Tax Year 2021