ISLAMABAD:

The Federal Board of Revenue has introduced a new requirement for taxpayers to declare the market value of their assets in their income tax returns. This move is aimed at curbing the underreporting of property values, a significant issue in Pakistan’s tax system.

The FBR clarified that no new Statutory Regulatory Order has been issued to amend the 2025 tax return form. The requirement to declare property values was included when the form was first published on July 7, 2025.

Taxpayers who have already filed their returns will not need to amend or refile them. However, for future filings, property owners must disclose the annual increase in the market value of their assets.

A common question raised by taxpayers has been whether this new rule will affect their tax calculations.

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