Published on, Sept. 26 -- September 26, 2025 8:45 AM

The Federal Board of Revenue (FBR) has clarified that asset declaration Pakistan can now be done without formal valuation or supporting documents. Taxpayers may declare the market value of movable and immovable assets at their own discretion in the 2025 tax returns. However, stricter reporting rules still apply to high-net-worth individuals under Section 7E of the Income Tax Ordinance 2001.

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The FBR explained that the change only addresses misinformation circulating on social media about amendments to the return form. So far, 2.7 million tax returns have been filed, but tax bar associations are urging authoriti...