FBR notifies new asset disclosure rules for Grade 17, above officers

ISLAMABAD: The federal government has fulfilled another key condition of the International Monetary Fund (IMF) as the Federal Board of Revenue (FBR) notified new rules requiring senior officers to publicly declare their assets, ARY News reported.

According to the reports, new regulations have been introduced under the Income Tax Ordinance 2001, mandating asset declarations for all Grade 17 and above officers. The rules apply to officials serving in the federal and provincial governments, autonomous bodies, corporations, and state-owned enterprises.

A key amendment replaces the term “civil servant” with “public servant”, expanding the scope of who must comply with the asset disclosure requirement. The notification also introduces a new, broader definition of “public servant” to ensure wider coverage.

However, individuals exempt under the National Accountability Ordinance (NAO) will not fall under these new rules, the FBR clarified.

The FBR stated that the amendments aim to make the asset-sharing system more transparent and align existing regulations with international standards.

The revenue body added that the changes were made to ensure the rules are more comprehensive, uniform, and harmonized across institutions, fulfilling an important IMF transparency benchmark.

FBR’s Criteria for Active Taxpayer Status for 2025

Earlier, the Federal Board of Revenue (FBR) had clarified that the determination of taxpayers’ active status for 2025 will be based on the income tax returns filed for the tax year 2024.

In a statement issued on Monday, the FBR rejected reports claiming that a large number of taxpayers had been declared inactive, calling such reports “baseless and misleading.”

According to the FBR spokesperson, taxpayers who filed extension requests within the prescribed time have already been included in the Active Taxpayers List (ATL).

The spokesperson further stated that the ATL for 2025 will comprise all individuals and entities who submitted their 2024 tax returns. Newly registered filers who submit their returns by November 15 will also be included in the 2025 list.

The FBR confirmed that taxpayers who applied for filing extensions have been granted an additional 15 days to file their returns.

The tax authority also announced that, following recent amendments to income tax rules, manual submission of returns has been permanently discontinued, and all returns must now be filed electronically.

Taxpayers who submitted manual returns last year are being provided a one-month transition period to switch to the e-filing system, the FBR said.

Those who have not yet filed their returns can still apply for an extension through the online system by November 15, it added.