The Federal Board of Revenue (FBR) has extended working hours at all its major tax offices.
According to an official announcement, all major FBR tax offices will remain open until 8 PM on Saturday, October 31.
Working hours have been extended at Large Taxpayer Offices (LTOs), Corporate Tax Offices (CTOs) and Regional Tax Offices (RTOs).
The FBR has directed all LTOs, CTOs and RTOs to continue operations until 8 PM on Saturday, October 31.
The FBR has also issued a notification announcing extended working hours at tax offices for Saturday.
Why Is Filing a Tax Return Important?
A tax return can be considered an account of a person’s annual income and expenses. Just as a shopkeeper maintains records of financial transactions, a tax return provides details of how much a person earned during the year, how much tax was paid and whether any additional amount remains payable.
In the case of salaried individuals, employers generally deduct tax from their salaries every month and deposit it with the government. However, employees are still required to file their annual tax returns themselves.
Once a tax return is filed and the relevant requirements are fulfilled, the individual’s name is included in the FBR’s Active Taxpayer List (ATL). In common terms, such a person is known as a filer.
One of the major benefits of being a filer is that individuals pay lower tax rates on several financial transactions compared to non-filers, including banking transactions and the purchase of vehicles and property.
Also Read: How Salaried Individuals Can File Tax Returns and Become Filers
