Income Tax Return Form for SMEs Shared by FBR

Islamabad: According to news reported on June 21, the Federal Board of Revenue (FBR) recently announced the income tax return form for Small and Medium Enterprises (SMEs) for the tax year 2023. The FBR announced the distribution of draft income tax return forms for various entities, including salaried individuals, associations of persons (AOPs), businesses, and business individuals, for the upcoming tax year in an official statement on Wednesday.

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The FBR published an S.R.O. 746(l)/2023 outlining the proposed adjustments to the Income Tax Rules of 2002 to effect these changes. These suggested changes apply to the 2023 tax year.

For different taxpayer categories, the FBR has provided a variety of electronic return forms. These include electronic return forms for businesses, Associations of Persons (AOPs), salaried individuals, SMEs, retailers, non-residents of Pakistani origin who do not receive income from Pakistan, non-resident ship and aircraft owners and charterers, and manufacturers.