- The date was extended following requests from the general public and traders.
- The aim of this move was to encourage under-applicants against tax evasion.
- FBR to confront tax evaders with restrictions targeting non-filers.
LAHORE: After the Federal Board of Revenue (FBR) extended the deadline for filing tax returns for the financial year 2023-2024, Monday (today) is the last day for the general public to fulfill their responsibility.
The FBR stated, in a statement issued today, Sunday, that it extended the deadline for submitting returns until next October 14. News I mentioned.
The decision came after requests from the general public as well as various trade organizations and tax bar associations.
Last week, Chairman Rasheed Mahmoud Langreal warned potential tax filers against evading tax filing. The senior official said that the authority will oppose them for a long time and prevent them from carrying out large transactions.
“Those who conduct large transactions will not be able to purchase properties, vehicles and manage bank accounts,” he said while speaking. Geographic News“Aaj Shahzeb Khanzada Kay Saat Program”.
Langreal confirmed that the tax return date of October 14 will be the last date for submitting returns, after which the government will make the initial decision to abolish the category of non-filers. He said that non-depositors will be prevented from making major transactions.
He added that the government may impose a ban on air travel.
Last month, the FBR announced a series of restrictions targeting non-filers to enhance tax compliance and broaden the tax base by eliminating the category of non-filers.
Initial restrictions include purchasing real estate, purchasing automobiles, investing in mutual funds, opening checking accounts, and engaging in international travel, except for that intended for religious purposes.
The government is abolishing the category of non-applicants, as a result of which individuals who previously paid small fees to avoid taxes on such transactions will no longer be able to evade tax obligations.
Non-filing of returns is a major problem in Pakistan’s tax system, he said, adding that the government is also working to strengthen the audit capacity of tax agencies.
In Pakistan, the Fed’s tax-to-GDP ratio could be raised to 15% along with the oil tax while the provinces could increase their tax contribution to 3% of GDP, so the country as a whole could touch the 18% mark in the total.