{"id":89014,"date":"2022-09-29T11:22:54","date_gmt":"2022-09-29T06:22:54","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=89014"},"modified":"2022-09-29T11:22:58","modified_gmt":"2022-09-29T06:22:58","slug":"policy-fbr-generates-revenue-estimated","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/policy-fbr-generates-revenue-estimated.html","title":{"rendered":"Policy confusion &amp; floods, FBR generates less revenue than estimated"},"content":{"rendered":"\n<p>Islamabad: The Federal Board of Revenue (FBR) has received only 1.5 million returns so far with 2 days remaining in the deadline, news sources reported on September 29.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/3-days-fbr-income-tax-returns-sep-30.html\" data-type=\"post\" data-id=\"88958\" target=\"_blank\" rel=\"noreferrer noopener\">3 days left: FBR advises citizens to file income tax returns before Sep 30<\/a><\/p>\n\n\n\n<p>The filing of returns has decreased significantly, which market analysts attributed to policy uncertainty caused by Tax Ordinance 2001 and mounting concerns over flood damage. According to sources, around 1.45 million individuals, Associations of Persons (AOPs), and corporations have filed yearly tax returns thus far, accounting for less than 40% of taxpayers who filed reports during the previous tax year &#8211; 2021. Similarly, data obtained by the FBR revealed that around 4,600 firms have filed annual reports thus far. Some 3,750 of them submitted no returns.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/tax-immovable-property-fbr-deadline.html\" data-type=\"post\" data-id=\"88995\" target=\"_blank\" rel=\"noreferrer noopener\">Tax on immovable property: FBR to extend deadline amid confusion<\/a><\/p>\n\n\n\n<p>The report stated that the FBR system has dramatically improved IT infrastructure over the years, which has tremendously aided tax filers, but the recent flood scenario has left many individuals in flood-affected areas unable to file returns. The FBR has also not yet released any formal policy on tax filing and extension of the deadline. Moreover, reports indicate that the issue of incom<a href=\"https:\/\/www.zameen.com\/news\/tax-immovable-property-fbr-deadline.html\" data-type=\"post\" data-id=\"88995\" target=\"_blank\" rel=\"noreferrer noopener\">e tax on immovable property <\/a>under Section 7C has also been a reason for many individuals being unable to file their taxes and waiting for the FBR&#8217;s judgment or announcement to clear the policy direction.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) has received only 1.5 million returns so far with 2 days remaining in the deadline, news sources reported on September 29. Read: 3 days left: FBR advises citizens to file income tax returns before Sep 30 The filing of returns has decreased significantly, which market analysts attributed to policy uncertainty caused by Tax Ordinance 2001 and mounting concerns over flood damage. According to sources, around 1.45 million individuals, Associations of Persons (AOPs), and corporations have filed yearly tax returns thus far, accounting for less than 40% of taxpayers who filed reports during the previous tax year &#8211; 2021. Similarly, data obtained by the FBR revealed that around 4,600 firms have filed annual reports thus far. Some 3,750 of them submitted no returns. Read: Tax on immovable property: FBR to extend deadline amid confusion The report stated that the FBR system has dramatically improved IT infrastructure over the years, which has tremendously aided tax filers, but the recent flood scenario has left many individuals in flood-affected areas unable to file returns. The FBR has also not yet released any formal policy on tax filing and extension of the deadline. Moreover, reports indicate that the&hellip;<\/p>\n","protected":false},"author":84,"featured_media":75334,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[54282,54280],"persona":[],"class_list":{"0":"post-89014","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-fbr-income-tax-2022","9":"tag-policy-confusion-floods","10":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Policy confusion &amp; floods, FBR generates less revenue than estimated- Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The Federal Board of Revenue (FBR) has received only 1.5 million returns so far with 2 days remaining in the deadline, news sources reported on\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/policy-fbr-generates-revenue-estimated.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Policy confusion &amp; floods, FBR generates less revenue than estimated- Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The Federal Board of Revenue (FBR) has received only 1.5 million returns so far with 2 days remaining in the deadline, news sources reported on\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/policy-fbr-generates-revenue-estimated.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-29T06:22:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-29T06:22:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/04\/FBR.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nauman Ahmad\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nauman Ahmad\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Policy confusion & floods, FBR generates less revenue than estimated- Zameen News","description":"Islamabad: The Federal Board of Revenue (FBR) has received only 1.5 million returns so far with 2 days remaining in the deadline, news sources reported on","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/news\/policy-fbr-generates-revenue-estimated.html","og_locale":"en_US","og_type":"article","og_title":"Policy confusion & floods, FBR generates less revenue than estimated- Zameen News","og_description":"Islamabad: The Federal Board of Revenue (FBR) has received only 1.5 million returns so far with 2 days remaining in the deadline, news sources reported on","og_url":"https:\/\/www.zameen.com\/news\/policy-fbr-generates-revenue-estimated.html","og_site_name":"Pakistan Real Estate News &amp; 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