The Federal Board of Revenue (FBR) on Friday formed a committee to simplify income tax returns for the tax year 2021.
This step of FBR is part of various reforms under the special direction of the Prime Minister of Pakistan. FBR urged timely design / finalization of income tax return forms for individuals, AOPs and companies for the tax year 2021. Upon departure from the previous exercise, the FBR aims to pre-design return forms. So that they are available to taxpayers on the first day of the tax year.
The Committee includes Member (IR Policy), Chief Information Officer, Chief of Inland Revenue Operations and Inland Revenue Policy and Second Secretary, Domain Business Team (DBT) of the Information Technology Wing of the FBR are members of the Committee.
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The purpose of the committee is to make income tax return forms as simple as possible. To prepare return forms which require the least possible intervention on an annual basis. FBR aimed and tasked to use International Best Practices.
The effort is aimed at facilitating taxpayers and making the income tax return more user-friendly and free of unnecessary complications. FBR also requested input from the ICAP, ICMAP, Pakistan Tax Bar Associations and various Chambers of Commerce and Industry.
Source | Federal Board Of Revenue | FBR | Income Tax Return | Last Date For Submission Of Income Tax Return 2020 | Penalty for non Filing of Income Tax Return 2020 |
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