Islamabad: The Federal Board of Revenue (FBR) has recently introduced the income tax return form for Small and Medium enterprises (SMEs) for the tax year 2023, according to news published on June 21.
In an official notification on Wednesday, the FBR announced the release of draft income tax return forms for various entities, including salaried individuals, associations of persons (AOPs), companies, and business individuals, for the upcoming tax year.
To implement these changes, the FBR issued an S.R.O. 746(l)/2023, which outlines the draft amendments to the Income Tax Rules of 2002. These proposed amendments pertain to the tax year 2023.
The FBR has made available several electronic return forms, each catering to different taxpayer categories. These include the electronic return form for companies, Association of Persons (AOPs), business individuals, salaried individuals, SMEs, retailers, non-resident Pakistan-origin individuals with no Pakistan-source income, non-resident ship owners/charterers, non-resident aircraft owners/charterers, and manufacturers.
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