January 27, 2023

The Federal Board of Revenue (FBR) has issued an ‘Individual Paper Return’ for the tax year 2022. The board issued the draft of the manual income tax return and wealth statement through the issuance of the S.R.O.1612(1)/2022.

The board has proposed to make changes in the exercise of the powers conferred by sub-section (1) of section 237 of the tax laws.

The FBR has asked the stakeholders to submit their objections or suggestions within seven days of publication of the draft. Objections or suggestions which may be received from any person in respect of the said draft, before the expiry of the aforesaid period, shall be taken into consideration by the FBR.

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