Tag: FBR

FBR, Pakistan’s national tax collecting agency, plays a crucial role in the country’s economy. Pakistan Revenue is committed to providing readers with the latest updates and developments regarding FBR activities.

  • Taxpayers Urge Finance Minister to Extend Return Filing Date up to November 30

    Taxpayers Urge Finance Minister to Extend Return Filing Date up to November 30

    Disappointed Taxpayers Seek Relief from Unmet Deadlines and Technical Challenges

    Islamabad, November 2, 2023 – Frustrated taxpayers in Pakistan are calling upon the finance minister to extend the deadline for filing income tax returns up to November 30, 2023, citing disappointments stemming from the Federal Board of Revenue (FBR)’s handling of the matter.

    Despite the initial deadline for filing income tax returns for the tax year 2023 being set for September 30, 2023, it was later extended to October 31. However, many taxpayers and tax practitioners are claiming that this extension was rendered nearly useless due to technical issues associated with the IRIS 2.0 online tax filing portal.

    Javed Iqbal Qazi, an Advocate Supreme Court, has taken action on behalf of these taxpayers by writing a letter to the finance minister. In his letter, he highlighted several issues that have hindered the filing process. According to the advocate, as of October 31, 2023, only 2.9 million income tax returns for the Tax Year 2023 have been filed, significantly below the FBR’s estimate of 4.7 million.

    Qazi pointed out that various challenges, including adverse climatic conditions, have had a debilitating effect on advocates, tax practitioners, and their staff. They are grappling with ailments such as dengue, seasonal fevers, and other diseases, making it difficult to prepare and submit returns for their clients.

    Furthermore, the financial hardship faced by many taxpayers has prevented them from depositing their tax liabilities in the government treasury. While the necessary data for tax return preparation is available with advocates, chartered accountants, and tax practitioners, the unavailability of their staff has prevented them from preparing returns and issuing challans for their clients to deposit funds in the government treasury.

    It’s worth noting that the federal government extended the deadline for the Tax Year 2022 until December 15, 2022, providing a precedent for such extensions. Additionally, local tax bars have already submitted requests to the FBR, urging them to extend the deadline for filing income tax returns up to November 30, 2023.

    Taxpayers are now anxiously awaiting a response from the finance minister and the FBR, hoping for an extension that will provide them with the necessary time and resources to fulfill their tax obligations for the Tax Year 2023.

  • Taxpayers Seek Deadline Extension as FBR Receives 2.9 Million Tax Returns

    Taxpayers Seek Deadline Extension as FBR Receives 2.9 Million Tax Returns

    Karachi, November 1, 2023 – As the Federal Board of Revenue (FBR) received 2.9 million tax returns by the October 31, 2023 deadline for tax year 2023, taxpayers are now clamoring for an extension to the filing deadline.

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  • FBR Surpasses 4MFY24 Target, Collects Rs 2.75 Trillion

    FBR Surpasses 4MFY24 Target, Collects Rs 2.75 Trillion

    Islamabad, October 31, 2023 – The Federal Board of Revenue (FBR) has exceeded its revenue collection target for the first four months of the fiscal year 2023-24, amassing an impressive total of Rs 2.75 trillion.

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  • FBR May Grant Another Return Filing Extension For Tax Year 2023

    FBR May Grant Another Return Filing Extension For Tax Year 2023

    Karachi, October 31, 2023 – The Federal Board of Revenue (FBR) is on the verge of granting another extension for the return filing deadline for the tax year 2023, which was initially set for October 31, 2023.

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  • Lahore Tax Bar Demands One-Month Extension in Return Filing Deadline

    Lahore Tax Bar Demands One-Month Extension in Return Filing Deadline

    Lahore, October 30, 2023 – The Lahore Tax Bar Association (LTBA) has formally called for a one-month extension in the return filing deadline and voiced concerns over issues plaguing the online portal for income tax return filing.

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  • Active Taxpayers List in Pakistan Reaches Record 4.98 Million

    Active Taxpayers List in Pakistan Reaches Record 4.98 Million

    Karachi, October 30, 2023 –Active Taxpayers List (ATL) in Pakistan has reached a historic high of 4.98 million taxpayers as of October 29, 2023, according to official data released by the Federal Board of Revenue (FBR).

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  • Multan Tax Bar Demands Extension of Tax Return Filing Deadline until November 30, 2023

    Multan Tax Bar Demands Extension of Tax Return Filing Deadline until November 30, 2023

    Karachi, October 29, 2023 – The Multan Tax Bar Association (MTBA) has officially called upon the tax authorities to extend the deadline for filing income tax returns for the tax year 2023 until November 30, 2023.

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  • Non-filers Face Disconnection of Mobile and Electricity Services After October 31, 2023

    Non-filers Face Disconnection of Mobile and Electricity Services After October 31, 2023

    Karachi, October 29, 2023 – Non-filers of income tax returns in Pakistan are on the brink of losing their mobile phone and electricity connections after the looming deadline of October 31, 2023.

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  • FBR Declares Saturday Normal Working Day to Boost Revenue Collection

    FBR Declares Saturday Normal Working Day to Boost Revenue Collection

    Karachi, October 27, 2023 – In a strategic move aimed at enhancing revenue collection, the Federal Board of Revenue (FBR) has announced Saturday, October 28, 2023, as a regular working day.

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  • Pakistan Announces Last Date for Filing Return for Tax Year 2023

    Pakistan Announces Last Date for Filing Return for Tax Year 2023

    Karachi, October 27, 2023 – The Government of Pakistan has officially set the last date for filing the annual income tax return for the tax year 2023.

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