The Federal Board of Revenue has issued a statement announcing that it will not extend the deadline for filing income tax returns, and is urging all taxpayers to submit their returns by September 30.
The FBR is taking a stern stance against individuals and businesses who fail to comply with the deadline, and is preparing to take stringent actions against non-compliant taxpayers.
As of now, more than 1.9 million income tax returns have been submitted, with a significant surge in registrations reported since July 1, 2024. This increase in registrations is attributed to the FBR’s recent awareness campaigns and enforcement measures, which have led to an increase in taxpayer compliance.
According to FBR data, around six million returns were filed in 2023, indicating a positive trend in tax compliance.
However, the FBR remains committed to expanding the tax net further and targeting those who remain outside the formal economy.
The FBR has clarified that individuals with an annual income exceeding Rs600,000, as well as property or vehicle owners, are required to file their income tax returns. Entrepreneurs earning above the specified threshold are also obligated to submit their returns.
Those who do not comply with the deadline may face severe penalties, including:
- Disconnection of mobile phone SIMs
- Disconnection of electricity or gas connections
- Freezing of bank accounts after issuing a warning to non-filers
- Legal action against those who ignore notices to file their tax returns
The FBR has also emphasized that certain individuals are required to submit their tax returns without fail, including those with foreign travel records, bank balances, owners of properties, houses, or vehicles. Failure to comply with these requirements will result in severe penalties.
In summary, the FBR is urging all taxpayers to file their income tax returns by September 30 and is taking a stern stance against non-compliant taxpayers. Those who do not comply with the deadline may face severe penalties and legal action.
