Islamabad: Time is running out for the citizens to file their income tax returns as today (December 15) is the last date of the third income tax extension.
With the deadline for filing income tax returns quickly approaching, the FBR has urged citizens to join the tax net by filing their returns. This deadline has already been extended three times for both individuals and companies.
Currently, the government has set a tax target of PKR 7.4 trillion for the tax year 2022-23, and they have devoted resources to increasing the tax net and getting more people and companies to file for income tax.
Analysts have noted that the government is having difficulty reaching its income tax goals due to the devastating flood in August and the lower industrial output caused by inflation and high fuel prices.
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