ISLAMABAD: Federal Board of Revenue (FBR) on Friday constituted a committee for simplification of income tax return for Tax Year 2021.
As a part of various reform initiatives and in pursuance to the special instructions of the Prime Minister of Pakistan, FBR chairman has constituted a committee for timely designing/finalization and simplification of Income Tax Return forms for individuals, AOPs and companies for tax Year 2021.
While departing from the previous practice, the FBR aims at designing the return forms in much advance so that forms are available to the taxpayers on the very first day of the tax year.
The committee shall be chaired by Member (IR-Policy) whereas Chief Information Officer, Chiefs of Inland Revenue Operations & Inland Revenue Policy and Second Secretary, Domain Business Team (DBT) of FBR’s Information Technology Wing would be members of the committee.
The committee aims at simplifying the income tax return forms to the best possible extent besides developing the return forms that require least possible interventions on year to year basis. International best practices shall be a guiding principle for the committee.
The idea behind this endeavor is to facilitate the taxpayers’ and make the income tax return form more user-friendly and free from unnecessary complications.
In order to make this initiative more fruit bearing and result oriented, FBR through a separate communication has requested the ICAP, ICMAP, Pakistan Tax Bar Associations and various Chambers of Commerce and Industry to give their input for designing a simplified version of the returns.
