KARACHI – Leading tax practitioners have urged the Federal Board of Revenue (FBR) to withdraw the recently added requirement of declaring the estimated market value of assets in income tax returns for the year 2025.
At a joint press conference at the Karachi Press Club, Pakistan Tax Bar Association (PTBA) President Anwar Kashif Mumtaz, Karachi Tax Bar Association (KTBA) President Ali A. Rahim, and other representatives criticized the abrupt changes introduced on September 23. They noted that many taxpayers had already filed their returns before the “Estimated Current Market Value” option appeared, forcing them to revise and resubmit their filings.
The speakers demanded that the FBR immediately remove the market value requirement and extend the filing deadline to October 30, 2025, so taxpayers are not penalized for delays caused by these last-minute amendments.
Anwar Kashif said taxpayers have been forced to file returns repeatedly this year as the FBR made five to six major changes to the return forms. He highlighted that IRIS, the online tax filing portal, continues to face technical issues even after a decade of use, with little progress from PRAL and the FBR in resolving them.
He further criticized policymakers, arguing that the changes appear more focused on meeting IMF obligations rather than easing taxpayer compliance. “In most countries, tax return software remains stable throughout the filing season. Here, frequent updates create confusion, errors, and technical glitches,” he said.
Tax bar leaders also warned that the number of return filers may fall below last year’s figures if the system remains unstable and burdensome. They stressed that tax consultants play a vital role in helping the government expand its tax base, but unnecessary hurdles discourage compliance.
Ali Rahim added that instead of cosmetic adjustments such as inserting market value fields mid-season, the government should focus on building a strong, transparent, and reliable tax system that promotes voluntary compliance.
Other senior PTBA and KTBA members, including Muhammad Zubair, Faiq Raza, Rehan Siddiqui, and Shams Mohiduddin Ansari, also attended the press conference in support of these demands.