The Federal Board of Revenue (FBR) has warned that Monday is the last day for submission of income tax returns for the financial year 2023-2024.

In a statement issued here, the FBR said that it had already extended the date for filing returns till the 14th of this month.

The decision to extend the date for submission of income tax returns was taken following requests by various trade organizations, tax bar associations and the general public.

“All taxpayers are urged to file their income tax returns immediately to avoid penalties and legal action,” the FBR said in its statement on October 1.

Earlier this week, the government urged non-filers and chief financial officers of wealthy manufacturing firms to pay their taxes and avoid exploiting input adjustments, which are significant sources of tax fraud affecting public finances.

Finance Minister Mohammad Aurangzeb stated that non-filers should be concerned, as the government is determined to identify the largest tax evaders.

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According to Aurangzeb, sales tax evasion amounts to approximately Rs3,400 billion.

Only 14% of the 300,000 manufacturers registered are involved in Rs 3,400 billion in sales tax evasion. Many of those registered misreport their turnover, claim excessive input tax, or use fraudulent invoices.