ISLAMABAD: Federal Board of Revenue (FBR) Chairman Shabbar Zaidi on Wednesday reiterated it is compulsory for those to file tax returns, who own a house larger than five hundred square yards or a vehicle over 1000cc.
“The last date for filing tax returns for the year 2018 has been extended till August 2”, Zaidi said in his statement.
Zaidi urged the people to benefit from this opportunity and file their tax returns timely to avoid difficulties.
He said according to the Income Tax Ordinance (ITO), filing of the tax return is compulsory for those who own a house larger than five hundred square yards or a vehicle over 1000 cc.
The FBR head said that, according to clause 181A of the ITO 2001, it is imperative for the commercial and industrial gas and electricity consumers to become part of the Active Taxpayers List (ATL).
Last month, Shabbar Zaidi had said that the FBR is working on a long term strategy for expanding the tax net in the country.
He had underlined the need for building the confidence of business fraternity for jacking up the economic sector of the country.
Zaidi admitted that the tax recovery in the country was not up to the mark. He, however, had said that there was a dire need to improve the tax recovery sector.
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