Islamabad — In a major relief for taxpayers, the Federal Board of Revenue (FBR) has removed the “Estimated Fair Market Value” column from the Income Tax Return Form 2025. The decision follows the directions of Prime Minister Muhammad Shehbaz Sharif, who acted on recommendations submitted by a high-level committee.
The Prime Minister had constituted the committee to review the newly introduced column in the IRIS tax return system. The column required filers to declare the estimated market value of both moveable and immovable assets. The committee was tasked with assessing its implications and suggesting corrective measures to simplify the tax filing process.
Chaired by Federal Minister for Law Senator Azam Nazeer Tarar, the committee included the Federal Minister for Petroleum, Minister of State for Finance, Attorney General for Pakistan, SAPM on Coordination (Office of DPM), Secretary Finance, Chairman FBR, and Member Customs FBR.
After detailed deliberations on Friday, September 26, the committee recommended removing the column. The Prime Minister approved the recommendation, emphasizing taxpayer facilitation and simplification of procedures.
In response, FBR officially removed the column from the tax return form. The board clarified that the column had been introduced solely for data collection to support the Economic Survey. It had no impact on income assessment or tax liability.
FBR reiterated its commitment to supporting taxpayers and urged all eligible individuals to file their returns accurately and honestly. The deadline for submission remains September 30, 2025.
This move is expected to ease concerns among filers and streamline the tax process, reinforcing the government’s commitment to responsive governance and economic transparency.
