The Federal Board of Revenue (FBR) reported a record 4.821 million income tax returns filed for the 2024 tax year by October 26—up 2.4 million from last year. This increase brought in Rs. 123 billion, more than double last year’s Rs. 56.55 billion. Notably, 528,638 returns came from new filers, fueling this growth.
The FBR has extended the tax filing deadline to October 31 and urged taxpayers to file on time to avoid penalties. The extension, granted on October 14, offers taxpayers extra time to meet their obligations. The FBR emphasizes timely filing to boost revenue and support Pakistan’s tax system.