Wednesday, 30 November 2022
Trending
UPDATES

Current figures of tax filings for tax year 2021

Federal Board of Revenue (FBR) has currently received just one million income tax returns with only five days left in the returns’ deadline, underscoring that the tax broadening campaign is not yielding results.

As compared to around 3.1 million income tax returns filed for the last tax year, so far the Federal Board of Revenue (FBR) has received around one million returns, according to sources in the FBR. FBR Chairman Dr Mohammad Ashfaq Ahmad has shown resolve that he would not give an extension in the deadline -which is September 30.

Unlike last fiscal year when the FBR had not timely uploaded the return forms and had to give extension till December 8 to give 90 mandatory days to taxpayers, this time the FBR efficiently uploaded the return. The legal requirement of giving taxpayers three months for filing the return has been duly met, the sources said.

The government has taken numerous measures to convince and compel the people to file their returns but so far all its efforts have failed to provide results. It seems the carrot and stick policy is not working either.

The government had also claimed that it had identified 7.2 million people on the basis of their withholding tax payments. But hardly 350,000 of them could be brought in the tax net.

tax accounting services top tax consultants lahore pakistan
Ads:

No of Tax filers so far | Income tax Return Filing | Income Tax Returns | Tax Year 2021 | Last date to filer tax returns | Extension in Date of filing tax returns | FBR | Federal Board of Revenue | Source News |

Related posts
UPDATES

What is Section 154A 1% Tax on IT Export Services

Table of Contents What is Section 154A 1% Tax on IT Export ServicesTax Credit Regime for export of…
Read more
UPDATES

FBR Iris Website is currently Under Maintenance

Table of Contents FBR Iris Website is currently Under Maintenance FBR Iris Website is currently…
Read more
UPDATES

Latest MoU was Signed by HMRC and FBR in 2022

Table of Contents Latest MoU was Signed by HMRC and FBR in 2022FBR and HMRC will partnering to work…
Read more
Newsletter
Subscribe Now

Sign up for  Daily Digest and get the best of News for you.