Sunday, October 01, 2023
The Federal Board of Revenue (FBR) announced on Saturday that the deadline for filing income tax returns for Tax Year 2023 has been extended for another month to October 31, 2023.
The decision comes in response to appeals from trade bodies and various tax bar associations. However, the federal tax-collecting body has stressed that no further extensions would be provided, according to an FBR notification issued late Saturday.
In a statement posted on the social media platform X, formerly known as Twitter, the FBR said, "In light of the requests from trade bodies and various tax bar associations, we have decided to extend the deadline for filing income tax returns for Tax Year 2023 to October 31, 2023."
"Nevertheless, it's important to note that no additional extensions will be granted," it added.
FBR officials reported that over 1.7 million individuals have already filed their tax returns. The officials also anticipated that the number would exceed two million by September 30.
Two days ago, the FBR announced that it would not extend the deadline for tax return submissions, which was initially set for September 30.
The tax slabs for year 2022-23 approved by the former government are:
The then-finance minister, Miftah Ismail — while announcing the federal budget for the fiscal year 2022-23 — revealed the FBR's target for the financial year is 9% — Rs7,004 billion.