ISLAMABAD (Kashmir English): The Federal Board of Revenue (FBR) has removed the “estimated fair market value” column from the 2025 tax return form following directions from Prime Minister Shehbaz Sharif to ease the filing process.
The prime minister had formed a committee led by Federal Law Minister Senator Azam Nazeer Tarar to review the column, which required filers to declare the estimated market value of their movable and immovable assets.
The committee comprised federal petroleum minister, minister of state for finance, attorney general, secretary finance, FBR chairman and senior officials.
Simplifying tax returns
After meeting on September 26, the body recommended dropping the column to simplify tax returns.
The FBR clarified that the column had been incorporated only for data collection to support the Economic Survey and had no impact on income assessment or tax liability.
The FBR has urged taxpayers to file accurate returns before the September 30, 2025, deadline.
The FBR said that taxpayers who have already filed their returns will not need to re-file, as the asset value entries will be disregarded for tax purposes. No tax notices will be issued for errors in that specific column.
