Islamabad: The Federal Board of Revenue (FBR) has notified another extension in the deadline for filing income tax returns, a news source reported. According to the latest announcement, the taxation agency has stretched the last date up to January 31.
The board in a circular announced that it was extending the date for filing of income tax returns and/or statements for the Tax Year 2019 through the powers conferred upon it under Section 214A of the Income Tax Ordinance, 2001.
The circular further states that individuals and associations of persons who were liable to file their income tax returns for Tax Year 2019 by September 30, and then through an extended deadline that had expired on December 31, may now file their income tax returns by January 31.
FBR Chairman Syed Shabbar Zaidi recently notified a 16% increase in taxes collected during the first half of the going fiscal year (FY2019-20; ended on December 31, 2019), when contrasted with the figures recorded for the same period of FY2018-19, according to news sources. As such, the total tax revenue collected during the former has been calculated to amount to PKR 2,080 billion.