Inside Financial Markets

FBR receives income tax returns

fbrFBR receives income tax returns
ISLAMABAD, Dec 17 (APP): The Federal Board Revenue (FBR) has received about 800,000 returns of income and statements till December 16, which are considerably more than the 711,000 returns and statements received last year. In this way, a positive response to the taxpayer facilitation efforts of the government has been witnessed, said a statement by the FBR here on Tuesday. The number of returns filed this year will further increase, as an appreciable number of income tax returns is in pipeline, which are being filed to avail the benefits announced by the Prime Minister in his Tax Incentive Package for the business community.
Further, the taxpayers who have been granted extension in filing the returns will also file such returns within a week or two.
The returns of companies closing their accounts by June 30, 2013, are due on December 31.
It is expected that about 125,000 more returns (including about 25,000 of companies) will be filed by December 31.
This improvement in return filing is due to an aggressive campaign
launched by the FBR and its field formations this year which was aimed at education and facilitation of the taxpayers for filing the returns of income.
More than 200 KIOSKs, TFCs were established throughout Pakistan on important business places, offices and Chambers where efficient staff of FBR was available for guidance and help to the taxpayers.
The staff also helped the taxpayers in e-filing their returns whosesoever the taxpayers were not having the computer/net facility or necessary expertise to file returns electronically.
The FBR stands committed to provide necessary guidance and facilitation to the taxpayers to discharge their national responsibility.

Sanie Khan

Sanie Khan holds a deep knowledge of the financial markets in Pakistan. Based in Karachi, he has over 20 years of hands-on management experience in financial technologies and managing operations in the financial sector. He was the General Manager at the Pakistan Stock Exchange (PSX) for 17 years. He along-with senior members of Exchange

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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)