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The Federal Board of Revenue (FBR) has released a new draft of its electronic income tax return form for both individuals and companies, and it’s anything but brief.
Labeled as the “Simplified Electronic Return for Individuals,” the proposed form spans a substantial 25 pages, leaving many questioning the simplicity of the process. This new return structure is part of the tax reforms planned for Tax Year 2025.
Official Notifications Issued
The FBR formalized the release through two statutory regulatory orders on Tuesday:
- SRO 1212(I)/2025: Draft return form for individuals and companies.
- SRO 1213(I)/2025: Proposed amendments to the Income Tax Rules, 2002, issued under Section 237 of the Income Tax Ordinance, 2001.
These drafts are not final yet. The FBR has opened a 7-day public consultation window. Taxpayers and stakeholders have one week from Gazette publication to submit objections or suggestions to the FBR.
The FBR assures that all feedback received during this period will be reviewed before the changes are finalized.
While the intention may be to digitize and streamline the tax return process, the length and complexity of the new form have already sparked concern among professionals and individual filers alike. Whether this reform truly simplifies compliance or creates new hurdles remains to be seen.
