In a last-minute decision, the Federal Bureau of Revenue (FBR) has extended the deadline for filing tax returns for the financial year 2024 until October 14, 2024. This extension comes following numerous requests from various trade bodies, tax bar associations, and the general public.
A notification released late Monday stated, “In exercise of powers conferred under Section 214A of the Income Tax Ordinance 2001, the FBR is pleased to announce that the date for filing Income Tax returns for Tax Year 2024, originally due by September 30, is now extended to October 14.”
This decision marks a significant shift, as just hours earlier, the FBR had dismissed the possibility of any deadline extension, calling media reports suggesting otherwise “untrue.” The tax authority urged all taxpayers to file their income tax returns promptly to avoid penalties and legal repercussions.
The FBR has a history of extending tax return deadlines; last year, the deadline was pushed to October 31. Sources indicated that a potential extension of 15 days was under consideration for individuals, associations, and businesses.
This extension comes as the government seeks to enhance its tax collection amid a challenging economic landscape. The Prime Minister Shehbaz Sharif-led administration introduced a comprehensive taxation plan in its June budget to facilitate negotiations for a fresh bailout deal with the International Monetary Fund (IMF).
