Islamabad, September 25, 2025: The Federal Board of Revenue (FBR) has made it mandatory for taxpayers to declare the market value of their assets in annual tax returns, introducing a new column in the Iris return form just days ahead of the filing deadline.
According to the FBR, taxpayers will now be required to provide details of the annual increase in the market value of properties. The new column was added to the return form on August 18, although no new Statutory Regulatory Order (SRO) has been issued in this regard.
The FBR clarified that the purpose of the new requirement is to determine the market value of assets for generating authentic data to support better policymaking. It stressed that the disclosure of asset valuations is unrelated to taxation matters.
“This measure will not be used as the basis for any action against taxpayers,” the tax authority assured, reiterating that the deadline for filing income tax returns remains September 30.
However, the FBR also stated that taxpayers who have already filed their returns will need to resubmit them using the updated form. Returns cannot be completed without filling in the additional column on asset market values.
