FBR deadline to file returns expires in three days

Lahore: The Federal Board of Revenue (FBR) deadline for filing tax returns will expire in three days on September 30, 2019 – a news source reported. To facilitate the public for paying government receipts, duties, and taxes, the authorised branches of the National Bank of Pakistan (NBP), and field offices of State Bank of Pakistan Banking Services Corporation (SBP-BSC) will remain open for extended hours on September 30. The banks have extended their hours to up to 9 pm.

Read: Declaration of foreign assets, income must for Pakistanis – FBR

According to the FBR rules, the following must file their returns:

• People registered as per the National Tax Number (NTN)
• People who have paid taxes within the last two years
• People with annual salaries of PKR 400,000 or more
• Companies whose tax period ends between July 1 and December 31
• Owners of land (500 yd² or more) or flats in jurisdiction of Islamabad Capital Territory (ICT), Cantonment, and Municipal
• Owners of land (500 yd² or more) or flats (covered area or more than 2,000 sq ft) in city areas
• Commercial or industrial payers of annual electricity bills of over PKR 500,000
• Owners of cars of 1,000 CC or more
• Charity and non-profit organisations as identified in Article 2 (36) of Income Tax Ordinance
• Members of Chamber of Commerce & Industry, traders’/business associations, market committees, or any professional body
• Residents whose foreign income is USD 10,000 or more
• Residents whose foreign assets account for USD 100,000 or more

FBR has also introduced the following advanced facilities to assist taxpayers:

• E-portal at iris.fbr.gov.pk
• Mobile application Tax Asaan, which is available on Apple Store and Google Play Store
• Internet banking, mobile banking, and ATM for online payment of taxes

For further information, the public can access the official FBR website: www.fbr.gov.pk or call the helpline: 051-111-772-772.

Read: FBR teams formed for collection of property transfer taxes

Meanwhile, the NBP branches will settle their transactions with the respective SBP-BSC field offices on the last day of filing tax returns, which is September 30. For this measure, the authorities concerned have arranged a special clearing at 7 pm by the National Institutional Facilitation Technology (NIFT).

To facilitate this special clearing for government transactions, the banks have been directed to remain open for extended hours.