Pakistan govt extends deadline for filing tax returns for FY24 by 14 days

Pakistan's Federal Bureau of Revenue (FBR) has extended the deadline for submitting tax returns for the financial year 2023-24 (FY24) to October 14, a 14-day extension.

This extension is in response to requests from various trade bodies, tax bar associations, and the general public, stated a notification issued late Monday.

This decision came just hours after the FBR had ruled out any possibility of extending the September 30 deadline, dismissing media reports about an extension as “untrue”.

“All taxpayers are urged to file their income tax returns immediately to avoid penalties and legal action,” the FBR added.

In recent years, the FBR has often extended the tax return submission deadline. Last year, the deadline was pushed to October 31.

In June, the administration led by Prime Minister Shehbaz Sharif passed a tax-heavy budget aimed at securing a new bailout deal with the International Monetary Fund (IMF), which was recently approved by the Fund’s Executive Board.