Islamabad, September 27, 2025: The Federal Board of Revenue (FBR) has dropped the controversial “estimated fair market value” column from the 2025 income tax return form, following the directions of Prime Minister Shehbaz Sharif to simplify the filing process.
The move came after a high-level committee, formed by the prime minister and headed by Federal Law Minister Senator Azam Nazeer Tarar, reviewed the requirement. The committee — which included the petroleum minister, minister of state for finance, attorney general, finance secretary, FBR chairman, and other senior officials — met on September 26 and recommended removing the column.
The column had required taxpayers to declare the market value of their movable and immovable assets. While introduced for data collection to support the Economic Survey, it sparked criticism among filers who feared it could impact their tax liabilities.
In its clarification, the FBR stressed that the column had “no bearing on income assessment or tax liability” and was never intended to generate tax notices. The board also confirmed that those who have already filed their returns will not be required to re-file, as entries in that column will be disregarded.
Earlier, the FBR dismissed misleading claims on social media suggesting the requirement had been newly added. Officials said the column was part of the original form notified on July 7, but many filers had incorrectly entered “0” for asset values, forcing the board to restrict the practice.
Taxpayers are now urged to submit accurate returns ahead of the September 30, 2025, deadline.
