ISLAMABAD – The Federal Board of Revenue (FBR) has extended the deadline for filing of income tax returns or statements till November 30 in order to facilitate the taxpayers.
The tax authority has decided this following the requests made by tax bars, various trade associations and members of business community.
The extension will however not apply to companies.
The FBR has received around 800,000 returns so far as compared to 550,000 returns received during the same period in the previous year .
According to a study conducted by the World Bank, Pakistan faces a loss of Rs3.2 trillion annually due to poor enforcement and low compliance by taxpayers.
