A flat tax would eliminate much of the inefficiency from Pakistan’s tax system by both broadening the tax base and significantly lowering the highest marginal tax rates. photo: file
The Federal Board of Revenue (FBR) on Monday announced an extension of the deadline for submitting income tax returns to October 31.
This decision is in response to requests from trade organisations and tax bar associations and considers bank holidays.
The extension of the submission deadline is made under Section 214A of the Income Tax Ordinance 2001, allowing taxpayers additional time to file their returns.
This extension aims to facilitate taxpayers and ensure compliance with tax regulations amidst various operational challenges.
Previously, FBR had extended the deadline for filing income tax returns for the fiscal year 2024 from September 30 to October 14, following requests from various trade associations and tax bar associations.
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