FBR Introduces E-Declaration for Tax Year 2025

Islamabad, August 19, 2025, 05:18 PM PKT — The Federal Board of Revenue (FBR) has unveiled a major overhaul, launching the “Electronic Foreign Income and Assets Declaration for Resident Individuals” for tax year 2025, alongside a separate electronic return for non-residents with no Pakistan income, as notified through SRO 1562(I)/2025 on Monday, per official reports. Amendments to the Income Tax Rules, 2002 underpin this streamlined tax filing system, aiming to enhance clarity for individuals and businesses, with SRO 1561(I)/2025 bolstering the updated framework for individual returns.

The FBR has also rolled out “Simplified Electronic Return for Individuals” and final income tax return forms for companies, associations of persons, and individuals, plus electronic returns for manufacturers, traders, and small and medium enterprises (SMEs), signaling a push to simplify tax reporting. Changes in the IRIS system will be treated as pre-existing, sparing taxpayers who filed before updates. Web context on tax reforms shows past complexities, while posts found on X reflect mixed reactions—some welcome efficiency, others fear compliance issues. Critically, the narrative of “tax simplification” may mask implementation challenges—web data hints at technical hurdles, and X sentiment suggests distrust in smooth adoption, pointing to potential setbacks.