KARACHI – Taxpayers in Pakistan are being urged to file their income tax returns by September 30, as the Federal Board of Revenue again shared an update ahead of the the given deadlines.
The country’s apex tax collection authority announced that the deadline for filing income tax returns will not be extended, urging all taxpayers to submit their returns by September 30.
FBR is prepared to implement strict penalties for those who fail to comply. Despite a significant rise in tax compliance, the agency is focused on expanding the tax base by targeting individuals and businesses operating outside the formal economy.
To enforce compliance, the bureau outlined several potential consequences for non-filers, including disconnection of mobile phone SIMs, electricity, or gas services, as well as freezing of bank accounts and legal action.
Pakistani nationals with an annual income exceeding Rs600,000, property or vehicle owners, and certain entrepreneurs must file their returns.
FBR imposes Rs60,000 monthly advance tax on Karachi Traders Under Tajir Dost Scheme
