PTBA Urges FBR to Correct Minimum Tax Computation in New Return Form

The Pakistan Tax Bar Association (PTBA) has urged the Federal Board of Revenue (FBR) to immediately correct errors in the new income tax return form regarding minimum tax liability computation. PTBA highlighted that the IRIS system's flawed computation creates additional tax demands, denying taxpayers full statutory benefits despite prior tax collection. This system, which apportions income and applies normal rates without excluding minimum-taxed income, contradicts statutory provisions and legislative intent. Such issues in tax administration, while not directly moving gold or currency, are vital for business confidence and Pakistan's economic stability.

بحوالہ / Source: www.brecorder.com