FBR extends deadline for filing tax returns till February 28

• Date of filing Return of Total Income/Statements of final taxation for Individuals and Associations of Persons for the Tax Year 2019 is further extended till Feb 28, says FBR.

The Federal Board of Revenue (FBR) has once again extended the date to file Individual and Companies tax returns for Tax Year 2019 until February 28, 2020.

“The date of filing Return of Total Income / Statements of final taxation for Individuals and Associations of Persons for the Tax Year 2019 which was due on 30 September, 2019 and extended upto 31st January, 2020 is hereby further extended upto 28th February, 2020", the FBR notification said.

For "those companies who have paid ninety five percent of the admitted tax liability on or before 30.09.2019," the date to file tax returns for 2019 was hereby further extended to February 28, 2020. Whereas, “the date of filing Return of Total Income / Statements of final taxation for Companies for the Tax Year 2019 which was due on 31st December, 2019 and extended upto 31st January, 2020, is hereby further extended upto 28th February, 2020.”

Meanwhile, the tax collecting authority has provisionally collected Rs2,404 billion during July-January (2019-20) against the downward revised target of Rs2,622 billion, reflecting a shortfall of Rs218 billion.

According to the provisional figures compiled by the FBR, the FBR has collected Rs321 billion during January 2020 against the monthly target of Rs425 billion, reflecting a shortfall of Rs104 billion.