The Federal Board of Revenue (FBR) has once again extended the deadline to file income tax returns.
The board had previously extended the date from August 31 to November 30 to attract the maximum number of filings.
On Friday night, a notification from FBR said it was further extending the deadline for fifteen days. The citizens can now submit their tax returns, and wealth statements by December 15, the notification said.
“The date of filing of Returns of Total Income/Statement of final taxation which were due on 31st August 2018 and extended upto 30th November 2018 is hereby further extended up to 15th December 2018,” the FBR said in a notification.
“The date of filing of Returns of Total Income and Statements of final taxation for Companies, Individuals and Associations of Persons which were due on 30th September 2018 and extended upto 30th November 2018 is hereby further extended upto 15th December 2018,” it added.
FBR sources confirm that the names of filers would immediately be put on active taxpayers list and they would not be barred from purchasing immovable property no matter what its worth.
Another relief FBR is mulling over for filers is that they will have to pay half the withholding tax. “Non-filers will have to pay 1.5-2 times more withholding tax,” the sources further said adding that non-filers won’t be able to purchase property worth over Rs 5 million.