ISLAMABAD: The Federal Board of Revenue (FBR) said on Saturday that it received a record 2.6 million income tax returns by Oct 16.
In a statement, an FBR spokesperson said tax collection through the returns clocked in at Rs48.6 billion. In comparison, he added, 1.8 million citizens filed their returns last year with tax paid totaling Rs29.6bn.
“This signifies 45% growth in filing of tax returns [this year] while 64% growth in tax paid with returns,” the spokesperson pointed out.
FBR has received record high 2.6 M returns and Rs.48.6 B tax paid with returns as against 1.8 M returns and 29.6 B tax paid with returns on closing date, 8th Dec.2020. This signifies 45% growth in filing of tax returns while 64% growth in tax paid with returns.
— FBR (@FBRSpokesperson) October 15, 2021
On Friday, the tax collecting body confirmed it would not allow any extension in the deadline to file income tax returns beyond October 15 following which there will be fines incurred by the day on those who are late.
The FBR spokesperson said that there would be no deadline extension anymore and noted that for those who have yet to submit the returns, the offices will remain open until 12 am midnight.