Islamabad, Sep 26: The Federal Board of Revenue (FBR) has firmly announced that the deadline for filing income tax returns will not be extended beyond September 30, 2024.
Dr. Hamid Ateeq Sarwar, FBR Member Inland Revenue (Policy), reiterated that the government has no plans to introduce new taxation measures or a mini budget in October 2024.
During a Senate Standing Committee on Finance meeting, Dr. Sarwar clarified that the focus will be on enforcement actions targeting non-filers and those involved in under-declaration or mis-declaration in tax returns.
He emphasized that 6 million returns have already been filed for the 2023 tax year, and further returns are expected due to ongoing enforcement actions.
Dr. Sarwar also revealed that 2.5 million people had filed zero-income returns, and the FBR’s system would block their financial transactions until they explain their sources of income.
The FBR has set a revenue collection target of Rs. 2,652 billion for the first quarter of the fiscal year 2024-25, with additional collections expected from advance tax payments and corporate sector contributions.
