The Federal Board of Revenue (FBR) has introduced the “Electronic Foreign Income and Assets Declaration for Resident Individuals” for tax year 2025, along with a separate electronic return for non-residents with no income sources in Pakistan.
This was officially notified through SRO 1562(I)/2025 on Monday. The changes apply to the tax year 2025.
The FBR has made amendments to the Income Tax Rules, 2002, to facilitate this declaration. The new system aims to streamline tax filing processes and provide greater clarity for individuals and businesses.
In addition, the FBR has issued several other forms as part of its ongoing efforts to simplify tax reporting. These include the “Simplified Electronic Return for Individuals,” as well as final income tax return forms for companies, associations of persons, and individuals for the upcoming tax year.
Additionally, the FBR has released electronic return forms for manufacturers, traders, and small and medium enterprises (SMEs). The issuance of SRO 1561(I)/2025 further supports the updated framework for individual returns.
The FBR emphasized that any changes made to the return forms in the IRIS system will be considered as pre-existing and will not affect taxpayers who have already submitted their returns before these updates.
