It has come to the discover of the Federal Board of Income (FBR) {that a} letter attributed to the FBR is being circulated on social media, creating an impression that exporters’ revenue tax returns will probably be scrutinized with the intent to impose unfair taxation. This impression is inaccurate and never primarily based on factual grounds.
For readability, the authorized framework governing exporters was amended by means of the Finance Act, 2024, whereby the regime relevant to exporters was modified from a remaining tax regime to a minimal tax regime.
This alteration is required to be mirrored within the Earnings Tax Returns for the Tax 12 months 2025.
To be able to mitigate the opportunity of any bonafide or different errors, the sphere formations had been directed to peruse the returns and course of them in accordance with the legislation, wherever any authorized inconsistency is recognized.
Conducting desk audits of returns and making certain compliance with tax legal guidelines is a statutory and first duty of the FBR.
Moreover, to stop any inconsistency, misuse or undue inconvenience to taxpayers, this train has been initiated below the supervision of FBR Headquarters.
The FBR stays dedicated to honest tax administration, facilitation of taxpayers, and implementation of tax legal guidelines in a lawful, clear {and professional} method.
