Mohsin Siddiqui (Chief Reporter)
The Federal Board of Revenue (FBR) has announced significant updates for the tax year 2024, including the introduction of new tax return forms and administrative changes impacting high-ranking officials.
In its latest notification, the FBR has introduced revised tax return forms tailored for various categories, including salaried individuals, associations of persons (AoPs), companies, and business individuals. This development aims to streamline the tax filing process and enhance compliance across different taxpayer segments. Electronic versions of these forms were officially notified through SRO949 of 2024.
Additionally, amendments to the income tax rules have been implemented, reflecting adjustments in tax reporting requirements and procedural enhancements aimed at improving efficiency and accuracy in tax submissions.
Simultaneously, the FBR has issued manual income tax return forms for individuals for the tax year 2024, as detailed in the notification under SRO0950. This initiative ensures that individuals have access to both electronic and manual options, catering to varying preferences and technological capabilities.
In a separate development on July 4, the FBR took decisive action by dismissing 27 high-ranking officials from their positions, responding to directives from Prime Minister Shehbaz Sharif. This administrative reshuffle affected 16 officers from the Inland Revenue Services and 11 officers from the Customs group, based on intelligence reports.
The notification issued by the FBR lists prominent officials who were relieved of their duties, including Dr. Akhtar Hussain, Customs Collector Islamabad; Muhammad Adnan Akram, Director Transit Trade Lahore; Irum Maqbool Aamir, DG Law and Prosecution; Naveed Iqbal, Director Transit Trade Gwadar; Ahsan Khan; Raza Khan; Amreen Tarar; Aamir Rasheed; Zahoor Ahmed; Qazi Afzal; Naseer Janjua; Muhammad Abid; Humera Maryam; Naved Akhtar, among others.
This restructuring within the FBR aims to optimize administrative efficiency and accountability within the organization, aligning with broader efforts to enhance governance and transparency in tax administration.
The introduction of new tax return forms and amendments to income tax rules underscores FBR’s commitment to modernizing tax processes and ensuring compliance with evolving regulatory frameworks. These measures are designed to facilitate smoother tax filings for individuals and entities while strengthening the overall tax ecosystem.
As stakeholders navigate these updates, the FBR continues to emphasize the importance of timely and accurate tax reporting, encouraging taxpayers to utilize the newly notified forms and comply with regulatory requirements effectively.
Stay informed about further developments regarding FBR’s initiatives and administrative reforms impacting tax administration in Pakistan.
