Committee formed to simplify return forms for tax year 2021

By: Farzana Ali Khan
ISLAMABAD: In pursuance of the Prime Minister’s directives and the continuation of reform measures in the Federal Board of Revenue (FBR), the chairman has issued directives to simplify the income tax return forms for individuals, associations and companies for the tax year 2021. The FBR has formed a committee before the tax year 2021 to make the new simple and easy income tax return form available from the first day of the tax year. The members will chair the IR Policy Committee while the Chief Information Officer, Chief IR Operations and Chief IR Policy and the Second Secretary of the IT Wing of the FBR will be members of the committee.The committee will make efforts to make the income tax return forms as simple and straightforward as possible and such an income tax return form will be prepared that at least one change has to be made each year.
The Committee will follow the best international practice in this regard. The purpose of forming the committee is to provide facilities to the taxpayers and to remove unnecessary complications in the tax return forms. In order to achieve the best results of this initiative, the FBR in another post has also sought suggestions from ICAP, ICMAP, Pakistan Tax Bar Association and various Chambers of Commerce and Industries for further simplification of tax return forms.