ISLAMABAD – Federal Board of Revenue FBR passed on relief for taxpayers with Extra Time for February 2025 Tax Filings.
The apex revenue collection agency extended the deadline to March 27, 2025, offering taxpayers an additional window to complete their submissions.
In a notification issued, FBR directed the Chief Commissioners of Inland Revenue at Large Taxpayer Offices (LTOs), Medium Taxpayer Offices (MTOs), Corporate Tax Offices (CTOs), and Regional Tax Offices (RTOs) to ensure compliance with the revised deadline.
This extension comes under the authority of Section 74 of the Sales Tax Act, 1990, and Section 43 of the Federal Excise Act, 2005. The original deadline, March 18, 2025, has now been moved to provide taxpayers with extra time.
Experts suggest that such extensions are often granted in response to technical or procedural challenges faced by businesses. The FBR has urged taxpayers to take advantage of the extension and submit their returns by the new due date to avoid penalties and ensure smooth processing.
Pakistan’s tax shortfall reached Rs606 billion in the first eight months of fiscal year 2024-25, with revenue collections falling short of IMF targets, despite a 28% growth in Federal Board of Revenue (FBR) receipts.
The government collected Rs7.342 trillion, missing the Rs7.95 trillion target, and for the seventh month in a row, it failed to meet monthly targets. While income tax collections exceeded expectations, other key areas like sales tax, federal excise duty, and customs duties missed their targets. The shortfall highlights the difficulty the government faces in meeting its fiscal goals, raising concerns about the need for further tax measures to address the gap.
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