No extension in submission of tax returns, warns FBR

ISLAMABAD: The Federal Board of Revenue (FBR) has decided against extending the date for submission of tax returns which expired today, ARY News reported.

The FBR has set the last date for filing income tax returns on October 30, which has been decided not to be extended.

Meanwhile, the Pakistan Tax Bar Association (PTBA) has urged the Chairman Federal Board of Revenue (FBR) to extend the last date for filing of income tax returns for tax year 2023 till 30th November, 2023.

The Board should take this decision to facilitate the taxpayers in the larger interest of law and collection of revenue, said Zahid Pervaiz and Muhammad Ijaz Ali, President and General Secretary of the Assessment, respectively, in a letter.

The Federal Board of Revenue (FBR) today announced tax collection of Rs 2748 billion from July till October, surpassing the collection target.

According to the FBR, the tax collection target for October was Rs 707 billion, which was also 37 percent more than the last month of October.

The FBR officials said that the tax collection last year in October was Rs 516 billion whereas the refund tax from July to October was Rs 158 billion.