The Federal Board of Revenue (FBR) has announced an extension for the deadline to file income tax returns for the tax year 2018. In Income Tax Circular No. 03, issued on Sunday, the FBR has moved the deadline from March 31, 2019, to April 30, 2019. This marks the fourth extension granted for the filing of tax returns for the specified year.
The extension applies to all returns of total income and statements of final taxation that were initially due on August 31, 2018, for various categories including companies, individuals, and associations of persons. Previously extended to March 31, 2019, the new deadline provides additional time for taxpayers to complete their filings.
The latest extension by the FBR is intended to accommodate taxpayers who may need more time to gather necessary documentation and finalize their returns. This measure aims to ensure compliance and provide relief to those facing challenges in meeting the initial deadlines.
The extension also covers returns for companies with fiscal years ending on December 31, 2018. For these entities, the deadline has similarly been pushed to April 30, 2019, from the earlier extension date of March 31, 2019. This adjustment is expected to facilitate a smoother filing process and improve overall compliance rates.
The FBR decision to extend the deadline reflects its ongoing efforts to support taxpayers and streamline the tax filing process. By providing additional time, the FBR aims to reduce the administrative burden on taxpayers and ensure that all necessary information is accurately reported.
Taxpayers are encouraged to take advantage of the extended deadline to ensure that their returns are filed correctly and in a timely manner. The extension is a significant step in helping to mitigate any potential disruptions and promote adherence to tax regulations.
For further information and guidance on the filing process, taxpayers can refer to the FBR’s official website or contact their local tax offices. The FBR continues to provide updates and resources to assist taxpayers in meeting their obligations and navigating the tax filing process effectively.
As the new deadline approaches, individuals and businesses are advised to review their tax documents and complete their returns well before April 30, 2019, to avoid any last-minute complications. The extended deadline offers a valuable opportunity to ensure compliance and address any issues that may arise during the filing process.
