FBR issues new important instructions for all tax filers

FBR issues new important instructions for all tax filers

Karachi: The Federal Board of Revenue (FBR) has issued new directives for tax filers.

FBR directed the tax filers to update their profiles, otherwise the said persons would be declared as non-filers. The filers will now have to update their contact number, email ID, sources of income, profile, along will business name, address and nature of business.

Further, the tax payers will also have to tell about their utility bills, residential address, bank account IBAN number in the profile.

The name of legal representative, authorized representative and employer to be also told to FBR.

Sources said that tax filers will have to attach all the mentioned documents in the IRIS profile, and those tax-payers who will not update the corporate profile will be fined Rs10,000.

According to the report, a four-day surcharge will be levied on a corporate filer four days after the deadline, and a fine of Rs1,000 will be levied on an individual tax filer.

The FBR has set a March 31 deadline to update IRIS profile.