ISLAMABAD: The Federal Board of Revenue (FBR) has issued a new, “Electronic Foreign Income and Assets Declaration for Resident Individuals” for tax year 2025.
A separate return has also been notified; i.e., “Electronic Return for Non-Resident having no source of income in Pakistan”.
The FBR has notified the declaration through issuance of SRO. 1562(I)/2025 here on Monday.
Foreign assets immune from taxes: ATIR
In this regard, the FBR has amended Income Tax Rules, 2002.
According to a FBR’s notification, a “Simplified Electronic Return for Individuals” has been notified, as well.
Through SRO 1562 (I)/2025, the FBR has also issued final income tax return forms (electronic) for companies, association of persons and individuals for tax year 2025.
Under the notification, the FBR has also released final Electronic Return for manufacturer, Electronic Return for traders and Electronic Return for small and medium enterprises (SMEs).
The FBR has also issued another S.R.O. 1561(I)/2025 to notify the “Simplified Electronic Return for Individuals”.
Any changes in the return available in IRIS shall be deemed to have always been present; however, this will not cause any prejudice to the taxpayers having filed the return prior to the change.
This Notification shall be applicable for the tax year, 2025, FBR added.
Copyright Business Recorder, 2025
