The Federal Board of Revenue (FBR) has just granted taxpayers an extended deadline for filing their income tax returns for the tax year 2023, offering a more convenient timeline for compliance with national tax regulations.
Taxpayers now have until October 31, 2023, to fulfill their national duty, providing an additional 16 days for compliance. This extended deadline applies to various categories of taxpayers, including salaried individuals, business professionals, Associations of Persons (AOPs), and corporate entities with special accounting years.
Originally, the deadline for filing income tax returns for the tax year 2023 was set for September 30, 2023. However, the FBR has responded to concerns raised by stakeholders regarding the functionality and accessibility of the online return filing portal. As a result, they have decided to extend the filing deadline by one month.
The FBR has officially announced the extension of the return filing deadline through Income Tax Circular No. 4 of 2023. While this extension offers taxpayers additional time to complete their tax obligations, it’s important to note that there will be no further extensions beyond the final deadline, which remains October 31, 2023.
This extension provides a valuable opportunity for taxpayers to ensure their tax affairs are in order and submit their returns in compliance with national tax regulations. It is strongly advisable for all eligible individuals and entities to utilize this extended timeframe to meet their tax obligations without the risk of incurring penalties or interest on late submissions.