FBR: Income tax return filing deadline ends today

• Date was extended after requests made by general public, traders.
• Move was intended to encourage under-filers against tax evasion.
• FBR to go against tax evaders with restrictions targeting non-filers.

LAHORE: After the Federal Board of Revenue (FBR) extended its deadline to file tax returns for the financial year 2023-2024, Monday (today) is the last day for the general public to fulfil their responsibility.

The FBR, in a statement issued on Sunday, mentioned that it had extended the deadline for filing returns till October 14, The News reported.

The decision came after requests made by the general public as well as various trade organisations and tax bar associations.

Last week, the board's Chairman Rashid Mehmood Langrial warned potential under-filers against evading tax submission. The top official said that the authority would go against them big time, barring them from making major transactions.

"Those making significant transactions will not be able to buy property and vehicles and operate bank accounts," he said while speaking on Geo News' programme 'Aaj Shahzeb Khanzada Kay Sath'.

Langrial maintained that the tax return date of October 14 would be the last due date for filing returns after which the government would take the principled decision to abolish the category of non-filers. The non-filers, he said, would be barred from major transactions.

The government might slap a ban on air travel, he added.

Last month, the FBR announced a series of restrictions targeting non-filers to enhance tax compliance and broaden the tax base by abolishing the non-filer category.

The initial restrictions include purchasing property, buying cars, investing in mutual funds, opening current accounts and engaging in international travel, except those for religious purposes.

The government is eliminating the non-filer category, as a result of which individuals who previously paid a small fee to avoid taxes on these transactions will no longer be able to evade tax obligations.

Under-filing is a major issue in the tax system of Pakistan, he said, adding that the government was also enhancing the audit capacity of tax machinery.

In Pakistan, the FBR’s tax-to-GDP ratio could be jacked up to 15% along with petroleum levy while the provinces could increase their taxation contribution up to 3% of GDP, so overall the country could touch the 18% mark in total.