FBR extends deadline for filing income tax returns

ISLAMABAD: The Federal Board of Revenue (FBR) on Wednesday extended the deadline for filing the income tax returns for the 2025 tax year by 16 days.

The notification stated that the income tax particulars could be filed till October 31.

Prior to this decision, the tax authority announced to extend the deadline two weeks ago, setting October 15 as the last date of submission.

The previous extension was approved following requests from various trade bodies, taxpayers, and tax bar associations, the FBR said.

The tax body faced a shortfall of Rs1.2 trillion against its original revenue target of Rs12.97 trillion for FY25, despite introducing Rs1.3 trillion in new taxes.

The shortfall drew scrutiny from the International Monetary Fund (IMF) during recent technical-level talks, where Islamabad was asked to explain the underperformance, The News reported.

The FBR ultimately collected Rs11.74 trillion after two downward revisions, with officials attributing the gap to unrealised recoveries worth Rs250 billion tied up in pending court cases.