FBR Shares Income Tax Return Forms For SMEs

The Federal Board of Revenue (FBR) has introduced a new income tax return form specifically tailored for Small and Medium Enterprises (SMEs) for the tax year 2023. 

As part of this development, the FBR has recently released draft income tax return forms for various entities, including salaried individuals, the Association of Persons (AOPs), companies, and business individuals. 

These draft forms have been made available through a notification issued by the FBR, including proposed amendments to the Income Tax Rules of 2002. The newly introduced income tax return form is expected to be applicable for the upcoming tax year 2023. 

The FBR has also released a range of electronic return forms for different entities, such as SMEs, retailers, non-resident Pakistan-origin individuals with no Pakistan-source income, non-resident ship owners/charterers, non-resident aircraft owners/charterers, manufacturers, and more. 

This move by the FBR aims to streamline the tax filing process and ensure greater compliance with tax regulations.
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