FBR extends tax return filing by 1 month

MG News | October 01, 2023 at 12:12 AM GMT+05:00

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October 01, 2023 (MLN): The Federal Board of Revenue on Saturday extended the deadline for filing Income Tax Returns for tax year 2023 from September 30 to October 31, 2023, as per a circular issued by the finance division on the same day.

This extension is due to the technical issues faced by taxpayers in the upgraded online system i.e. IRIS version 2.0.

Additionally, various trade bodies and tax bar associations also requested an extension.

It is worth mentioning that the FBR has successfully surpassed the revenue target for the first quarter of FY24 by collecting Rs2.041 trillion in tax revenues as against the set target of Rs1.977tr.

Similarly, the FBR successfully achieved the tax collection target for the month of September by collecting Rs834 billion against a target of Rs799bn.

The government has projected a revenue collection target of Rs9.415tr for FY24.

Moreover, FBR said that it is committed not only to achieving the assigned target for the upcoming months of the current financial year but also to surpassing it.

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