The Federal Board of Revenue (FBR) late on Monday night extended until Oct. 14 the deadline for filing income tax returns for the tax year 2024, hours before the previous deadline of Sept. 30 expired.
“In exercise of powers conferred under Section 214A of the Income Tax Ordinance 2001, the Federal Board of Revenue is pleased to communicate that the date of filing of Income Tax return for the Tax Year (TY) 2024, for the persons who are required to file their returns by September 30, 2024 is hereby extended up to October 14th, 2024 in view of the requests from various trade bodies, Tax Bar Associations and general public,” read a notification.
The decision followed speculation over an extension to the deadline in light of a surge on the FBR’s web portal, which prevented many from filing their returns in a timeline manner. Prior to the announcement, various FBR sources had maintained that an extension was not under consideration and urged all taxpayers to file their returns in a timely manner or risk penalties and legal action.
Traditionally, the FBR tends to extend the tax return submission deadline by a few weeks annually to ensure maximum filers are granted a chance to submit their returns.
The government has repeatedly asserted it is committed to reforming the country’s prevailing taxation structure, with Finance Minister Muhammad Aurangzeb announcing recently that it was time to end the concept of “non-filers” and penalize those who do not file their returns. He warned that those who did not file their returns could face travel and banking restrictions, as well as potential shuttering of utilities and a bar on purchasing any immovable property.
Ahead of the extension announcement, the FBR announced it had received around 3.66 million income tax returns thus far this year, compared to 1.95 million in the same period last year.