The Federal Board of Revenue (FBR) has rolled out a new “Electronic Foreign Income and Assets Declaration for Resident Individuals” for the tax year 2025, marking a key step in expanding digital compliance and documentation of offshore earnings.
According to an official notification, SRO 1562(I)/2025, the FBR has also introduced a separate electronic return for non-residents who do not have any source of income in Pakistan.
In line with the amendments made to the Income Tax Rules, 2002, the FBR has launched multiple new return forms. These include the Simplified Electronic Return for Individuals, electronic return forms for companies, associations of persons, and individuals, as well as specialized electronic returns for manufacturers, traders, and small and medium enterprises (SMEs).
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The move is part of the government’s ongoing efforts to digitize tax procedures, improve transparency, and ensure greater compliance. Tax experts believe the introduction of targeted return forms, particularly for foreign incomes and assets, will enhance monitoring of offshore wealth held by Pakistani residents.
Additionally, the FBR issued another notification, SRO 1561(I)/2025, to formalize related tax procedures.
Officials stated that the new system is expected to streamline filing, reduce compliance costs, and bring more individuals and businesses into the tax net while aligning Pakistan’s framework with international tax reporting standards.
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