ISLAMABAD: The Federal Board of Revenue (FBR) on Friday constituted a committee for simplification of income tax return form for Tax Year 2021.
According to a press statement, as part of various reform initiatives and in pursuance to the special instructions of the prime minister, the FBR chairman has constituted a committee for timely designing/finalisation and simplification of income tax return forms for individuals, associations of persons (AOPs) and companies for the tax year 2021.
“While departing from the previous practices, the FBR aims at designing the return forms in advance so that forms are available to the taxpayers on the very first day of the tax year,” the statement read.
The committee shall be chaired by Member (IR-Policy), whereas chief information officer, chiefs of Inland Revenue Operations & Inland Revenue Policy, and second secretary, Domain Business Team (DBT) of FBR’s Information Technology Wing, would be members of the panel.
“The committee will look to simplify income tax return forms to the best possible extent, besides developing the forms that require least possible interventions on a year to year basis. International best practices shall be a guiding principle for the committee,” the FBR maintained. “The idea behind this endeavour is to facilitate taxpayers and make the income tax return form more user-friendly and free from unnecessary complications.”
In order to make this initiative more fruit bearing and result-oriented, the FBR, through a separate communication, has requested the ICAP, ICMAP, tax bar associations and chambers of commerce to give their input in designing a simplified version of returns.