ISLAMABAD: Pakistan’s Federal Board of Revenue (FBR) on Monday rejected reports of an extension in deadline to file income tax returns for fiscal year 2024-25, saying Sept. 30 is final date for all Pakistanis to submit their wealth statements.

The statement came after some reports suggested the revenue watchdog had extended the deadline in view of the recent floods that killed more than 1,000 Pakistanis, uprooted nearly 3 million people and submerged standing crops on vast tracts of lands.

In a statement issued on Monday, the FBR said that all these reports were false, baseless and misleading and the deadline for filing income tax returns for Tax Year 2025 will not be extended.

“It is pointed out that a vast majority of taxpayers reside in areas unaffected by floods and have had ample time to discharge their national obligation of filing returns,” it said.

“Taxpayers are also cautioned that failure to file returns by the due date will result in late-filer status and imposition of penalties under the law.”

The South Asian country has one of the lowest tax-to-GDP ratios in the region, despite a population of more than 240 million, and has often failed to meet its collection targets.

In June, Prime Minister Shehbaz Sharif’s government set a record-high tax collection target of Rs14.13 trillion ($47.4 billion) for the fiscal year 2025–26, marking a 9 percent increase from the previous year.

Officials say meeting this goal is essential to reducing reliance on external debt and ensuring long-term fiscal sustainability.

“FBR urges all eligible taxpayers to act responsibly and file their Income Tax Returns with accuracy and honesty before the deadline of 30th September, 2025 to avoid any legal consequences,” the FBR said, denying reports about a slowdown of its tax returns filing platform, IRIS.

“In case of extreme hardship, the taxpayers can avail extension of return up to fifteen days with payment of due taxes by 30th September subject to approval by the relevant committee as per law.”