Islamabad: The Federal Board of Revenue (FBR) has publicised the draft of its revised income tax returns form for the country’s salaried class, business personnel, Associations of Persons (AOPs), and companies for Tax Year 2020; and has invited feedback on it from stakeholders – a news source reported on August 20.
The draft returns form was issued under SRO 745(I)/2020 on Wednesday and is intended for electronic use by several classes of individuals and companies.
According to details, the government has been looking to issue a simplified returns form to facilitate taxpayers and make it easier for all citizens to submit their returns; with this form representing a culmination of these efforts. Some experts, however, have opined that the forms are still quite lengthy; and have further called on the FBR to review the filing sections for salaried individuals and simplify them further.
