Business
New record: Highest tax returns filed in country
Taxpayers paid more than Rs55 billion
Islamabad: This year, for the first time in the country's history, more than 3.5 million income tax returns have been submitted.
For the first time in Pakistan's history, the number of annual income tax returns has crossed 3.5 million, with taxpayers paying more than Rs55 billion.
This was revealed in the meeting of Inland Revenue Operations and other team members chaired by Chairman Federal Bureau of Revenue (FBR) Rashid Mahmood Langriyal between Monday and Tuesday night.
According to Federal Finance Minister Muhammad Aurangzeb, 1.6 million tax returns were received by the FBR till September 30 last year, thus the annual tax returns for the year 2023-24 have been submitted more than twice as compared to the previous year.
According to the media report, the reason for extending the rate tax submission date by 14 days was due to problems in the system of FBR and business organizations and the public were facing difficulties in submitting tax returns.
To solve these problems, Chairman FBR consulted with Federal Finance Minister Muhammad Aurangzeb and extended the date of submission of tax returns by 14 days.