ISLAMABAD – Taxpayers who fail to submit their income tax returns by today’s deadline (September 30) could face significantly higher fines, according to media reports.
The Federal Board of Revenue (FBR) has reportedly decided to discontinue the category of late-filer from October 1.
Expected New Fines Structure
Under the reported changes, the penalty for individuals filing their returns after the deadline will increase from Rs1,000 to Rs25,000.
For late-filing Association of Persons (AOPs), the penalty is set to rise from Rs10,000 to Rs50,000.
Companies could face an even higher penalty, with the amount increasing from Rs20,000 to Rs100,000.
The Federal Board of Revenue (FBR) has stated that September 30 is the deadline for submitting income tax returns. Taxpayers have also been advised to provide the required supporting documents along with their returns.
According to the FBR spokesperson, action may also be taken against taxpayers who conceal assets or provide incorrect information. Authorities may use various means, including bank accounts, to recover outstanding amounts.
All commercial bank branches will remain open until 10:00 pm on Wednesday, September 30, 2026, to facilitate taxpayers in making over-the-counter payments of government duties and taxes.
According to the State Bank of Pakistan (SBP), the decision was taken at the request of the Federal Board of Revenue (FBR) to ensure taxpayers can complete their government-related payments before the deadline.
