FBR received record number of returns along with highest ever amount of income tax

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FBR received record number of returns along with highest ever amount of income tax

ISLAMABAD: The Federal Board of Revenue (FBR) has received a record number of returns this year, along with the highest ever amount of income tax at the time of filing.

According to a statement issued by the FBR on Wednesday, “A total of nearly 1.8 million returns have been filed together with an amount of about Rs22 billion. Last year, around this time, 1.73 million returns were filed while about Rs13.5 billion were deposited as income tax.”

Comparatively, the returns are higher by 4pc and tax deposited is higher by 63pc.

It is important to note that the government had decided not to extend the tax filing deadline of 8 December 2020 with a view to restore the credibility and predictability of the final date, and to promote tax discipline. However, to ensure that no hardship was faced by taxpayers, a number of special measures were adopted.