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FBR receives 1.238m tax returns till 15th

FBR receives 1.238m tax returns till 15th

ISLAMABAD: The Federal Board of Revenue has informed a parliamentary committee that around 1.238 million people had filed their tax returns by February 15, which are 24 percent higher than the returns filed last year.

The FBR’s official informed the Senate Standing Committee on Finance and Revenue that 998,000 returns were field during corresponding period year of the previous year. The committee, which met under the chair of Senator Saleem Mandviwalla, has also discussed the Private Member’s Bill further to amend the protection of Economic Reforms Act, 1992 (The Protection of Economic Reforms (Amendment) Bill, 2016), introduced by Saleem Mandviwala.

The State Bank of Pakistan informed the committee that it has also drafted a bill in this regard, which has been moved to the ministry of finance for consideration. They would also seek the viewpoint of the ministry of law and FBR. The committee chairman said that government should compare the SBP’s bill with his bill protection of Economic Reforms Act, 1992 (The Protection of Economic Reforms (Amendment) Bill, 2016) and present the report to the committee.