KARACHI, September 25 – The business and industrial community has united in harsh criticism of the Federal Board of Revenue (FBR) for making sudden amendments to the 2025 income tax return and wealth statement forms just days before the September 30 deadline.
Salim Valimuhammad, Chairman of the Pakistan Chemical & Dyes Merchants Association (PCDMA), demanded an urgent extension in the filing deadline, warning that the abrupt changes in the return form have created widespread disruption. He noted that taxpayers are now required to disclose all properties at their Estimated Current Market Value (ECMV) and list assets individually. “Introducing such sweeping reforms without consultation is impractical,” he said, adding that the FBR’s online system continues to face technical glitches, preventing smooth filing of returns.
Similarly, SITE Association of Industry (SAI) President Ahmed Azeem Alvi described the amendments to the tax return form as “unfair and unjust,” especially for taxpayers who had already submitted returns under the earlier format. He cautioned that such moves are eroding trust in the tax regime. “The FBR is paradoxically punishing those who comply on time while sending a damaging signal to the business community,” Alvi said.
Both leaders argued that frequent and last-minute changes discourage compliance and risk pushing businesses into the undocumented economy. They emphasized that major reforms should be rolled out gradually, with a clear roadmap and consultation with stakeholders. “Policy changes must be transparent and predictable; otherwise, compliance will suffer,” Valimuhammad warned.
The PCDMA and SAI have jointly appealed to the Ministry of Finance and the Prime Minister’s Office to extend the filing deadline to November 30, 2025. They concluded that sustainable tax policy requires stability, dialogue, and a focus on ease of doing business — not on creating unnecessary hurdles for genuine taxpayers.