Committed to Help You Succeed

As reported on 25 October 2026, IRIS automatically fills the opening wealth balance from the last filed Wealth Statement and does not allow it to be edited, so returning residents can't enter the correct opening balance for Tax Year 2026 or reconcile their wealth movement. The Karachi Tax Bar Association has written to FBR asking for the IRIS validation to be changed, and no fix had been reported at the time of writing. If this affects you, don't leave it to the last day: send us your documents now and we'll work out the safest way to file your return and wealth statement before 31 October 2026. Everyone else should still file early, as portal slowdowns tend to build up near the deadline.

Reported on 20 October 2026, the directions say reforms will continue without interruption and technology, training, transparency and accountability will be strengthened. Officials said the estimated tax gap has narrowed from 6% to 5% of GDP over three years and that technology has cut the discretionary powers of FBR officers. They also said 957 auditors have been hired on merit-based contracts as third-party auditors, which reportedly quadruples FBR's audit capacity. No new tax rates or filing dates were announced. What it means for you: expect more data-driven checks and audits, so keep your records and return figures accurate. Your return for Tax Year 2026 is due by 31 October 2026, and we can review it with you before you file.

According to provisional figures reported on 12 October 2026, net collection for the first quarter of FY2026‑27 was about 7% higher than the Rs2,889 billion collected in the same period last year. Gross collection before refunds was Rs3,286.7 billion against a Rs3,047 billion target, and FBR paid out Rs203.2 billion in refunds, up roughly 28% year on year. For taxpayers, the takeaway is that FBR is meeting its targets, and with returns for Tax Year 2026 still open until 31 October 2026, filing on time keeps you on the Active Taxpayer List. If you haven't filed yet, contact us and we'll take care of it.

FBR announced the extension on 15 October 2026 under Section 214A of the Income Tax Ordinance, 2001, citing requests from trade bodies and tax bar associations over delays in issuing return forms and heavy online traffic. It applies to persons who were originally required to file by 30 September 2026. By 14 October, about 6.71 million returns had been filed, up roughly 34% on the same point last year, with Rs66.81 billion paid along with returns. Don't treat the extra days as a reason to wait: portal congestion tends to build up again near any deadline, and a late return can mean losing Active Taxpayer List status. Our homepage countdown now runs to 31 October. If your return is still pending, contact us and we'll get it filed well before the date.

FBR has cautioned taxpayers that concealing assets, providing inaccurate information, or tampering with financial records in a return can result in heavy penalties. According to officials, salaried individuals who file incorrect returns could face a penalty of up to 75% of their salary, and failing to pay an imposed penalty within the prescribed time adds a further fine of Rs. 1,000 per day. FBR has also compiled data on properties and assets owned nationwide and will cross‑check return data against its own database using an automated system, with artificial intelligence being used to flag discrepancies. If you've already filed and are unsure whether every figure and asset is accurately reported, you can still correct your return before 15 October 2026. With only a few days left, now is the time to double‑check your return rather than wait — reach out to us and we'll review it with you before the deadline.

The Federal Board of Revenue announced the extension via its official X account hours before the original 30 September deadline expired, citing requests from trade bodies and tax bar associations over delays in return-form availability and heavy congestion on the IRIS portal. The extension applies to persons who were required to file by 30 September 2026. FBR noted that filings had already surged 45.8% compared to last year, reaching over 5.18 million returns by late September. Note that the Finance Act 2026‑27 significantly increased late‑filing penalties for taxpayers who miss the deadline and later need to rejoin the Active Taxpayer List — up to Rs. 25,000 for individuals, Rs. 50,000 for associations, and Rs. 100,000 for companies — so it's still best to file well before 15 October rather than relying on the new date as a last‑minute cushion. Our live countdown timer on the homepage has been updated to reflect this new deadline. If you haven't filed yet, reach out and we'll get it done before the extended date.

FBR has directed its Inland Revenue offices to remain open until 10pm today to receive tax payments and assist last‑minute filers, and the State Bank has asked commercial banks to do the same so payments can be processed. Be aware: the IRIS portal has been slowing down over the past day under heavy load as filers rush to beat the deadline. If you haven't filed yet, don't wait any longer — the safest move is to file immediately rather than risk portal congestion in the final hours. If you're stuck or need urgent help finishing your return today, contact us right away on WhatsApp and we'll do what we can to get you filed before midnight.

FBR has introduced a voluntary tax scheme for small shopkeepers whose income comes mainly from retail shops, charging 1% of annual sales for Tax Year 2026. To qualify, annual turnover must not exceed Rs. 200 million, and participants must pay at least Rs. 25,000 in cash with their return, even after accounting for tax already withheld. The scheme is not available to owners of multiple shops, Tier‑1 retailers, jewellery sellers, or professional service providers, and existing filers cannot use it to reduce their payable tax below last year's amount. If you run a single retail shop and think this could simplify your filing, get in touch and we'll confirm whether you qualify and whether it actually works out cheaper for your situation.

FBR has published a direct warning to taxpayers to be alert for fraudulent emails and messages impersonating FBR — often used to trick people into sharing personal or financial information, or into making payments through unofficial channels. A few things to keep in mind: FBR will never ask for your IRIS password or bank OTP by email or phone, all genuine tax payments are generated as a PSID through the official IRIS portal, and any notice you receive should be verified by logging into your own IRIS account rather than clicking links in an email or SMS. If you receive anything that looks like it's from FBR and you're unsure whether it's genuine, send it to us before responding — we're happy to check it for you.

FBR has released an explanatory document covering the key amendments introduced by the Finance Act 2026 to the Sales Tax Act, 1990 and the Federal Excise Act, 2005. This is FBR's own interpretation of how the new provisions are intended to apply, which makes it the reference point for anyone registered for sales tax or federal excise. If you're a sales tax registered business, a retailer, or in manufacturing, these changes may affect your monthly filing, invoicing, or excise obligations. Contact us and we'll review which amendments apply to your specific business and what needs to change in your compliance process.

FBR has launched a dedicated online platform for public servants to file their declaration of assets digitally, replacing the previous manual process. If you're a government employee, this is separate from your regular income tax return on IRIS — both obligations apply independently, and filing one does not cover the other. If you're a public servant and unsure how your asset declaration should align with the wealth statement in your income tax return, get in touch and we'll make sure both are consistent and correctly filed.

📅 آخری تاریخ: 30 ستمبر 2026
⚠️ آخری تاریخ گزرنے کے بعد ATL فیس 25,000 روپے لاگو ہوگی۔

✅ بروقت ریٹرن فائل کریں
✅ ایکٹو فائلر اسٹیٹس برقرار رکھیں
✅ اپنی آمدن اور اخراجات کی درست تفصیلات جمع کروائیں
✅ پروفیشنل ٹیکس فائلنگ اور کنسلٹنسی حاصل کریں

Via draft SRO 1496(I)/2026 issued on 2 September 2026, FBR has proposed substituting Rule 231C, which governs Alternative Dispute Resolution (ADR) under Section 134A of the Income Tax Ordinance, 2001. Under the proposed mechanism, a taxpayer seeking ADR would submit a written application in a prescribed form along with their nominee's details (CNIC, phone number, address and email), and would need to propose three retired judges for consideration as ADR Committee chairperson. This is currently a draft — stakeholders were given a short window to submit objections or suggestions before it's finalised. If you have an ongoing or upcoming dispute with FBR that you're considering resolving through ADR, it's worth checking with us on where this stands before you file.

It's a common mix‑up: many business owners assume the same 30 September cut‑off applies to everyone, but FBR sets a separate deadline for companies. If you file as an individual, salaried person, or Association of Persons (AOP), 30 September 2026 is your date — miss it and you risk both the late‑filing surcharge and loss of Active Taxpayer List status for the year. If you operate through a registered company with a 30 June financial year‑end, your statutory deadline is 31 December 2026 instead. If you're unsure which category applies to you, or you operate more than one entity with different deadlines, get in touch and we'll confirm exactly what's due and when.

Filing on time matters for more than just avoiding penalties: it keeps you compliant and helps you avoid ATL fees for non‑filers, ensures smooth business operations by maintaining your active taxpayer status, and helps build a strong financial profile that's often needed for loans, visas, and tenders. Start Date: 1‑Jul‑2026. Deadline: 30‑September‑2026. Let us handle your taxes so you can focus on growth.

The Finance Minister confirmed FBR closed fiscal year 2025‑26 having collected more than Rs13 trillion in taxes, surpassing its official target. Refunds disbursed to taxpayers rose 21% year‑on‑year to almost Rs599 billion — a meaningful sign that refund processing is moving faster. The government has also announced a newly approved operating model for FBR centred on digital, faceless tax administration to reduce direct interaction between taxpayers and officers. For our clients, this points toward continued digitisation of filing, assessment and refund processes — we're monitoring the rollout and will flag anything that changes how you interact with FBR.

Following a government review of FBR reforms, the Prime Minister has directed timely completion of the faceless assessment system for Inland Revenue. The first phase becomes operational on 1st October 2026, aiming to reduce direct interaction between taxpayers and tax officers during assessments. We're tracking this rollout closely and will guide clients through any changes to the assessment and audit process as it takes effect.

FBR periodically schedules system maintenance windows on IRIS, Digital Invoicing (DI), the Payment System, SWAPS, and POS Registration, during which these services become temporarily unavailable. To avoid being caught out by a maintenance window right before a deadline, we recommend completing time-sensitive filings, payments, and registrations well in advance rather than waiting until the due date.

FBR has officially opened filing for Tax Year 2026 on the IRIS portal. Filing before the 30th September deadline keeps you on the Active Taxpayers List (ATL) and avoids late filing penalties and surcharges. Gather your CNIC, salary certificate or business income details, bank statements, and property/vehicle records now so your return can be filed well ahead of time.

Slots fill up quickly closer to the deadline, and late filing risks penalties and loss of active filer status. Book your consultation now so your documents are reviewed and your return filed well ahead of the cut‑off.

Advance tax is calculated on projected income for the year, so instalments should be reviewed if your business's income has changed significantly this quarter. Get in touch and we'll recalculate before you pay.

Sending invoices, purchase records and bank statements early in the month gives us time to reconcile everything properly before filing, reducing the chance of errors or a missed deadline.