Pakistan, Jan. 18 -- Federal Board of RevenueThe Federal Board of Revenue (FBR) has decided not to impose a penalty on late filers across the board owing to technical and non-technical hurdles in the filing of returns.

According to sources, the FBR has softened its stance on the imposition of penalty on income tax returns late filers for the tax year 2020-21. Although, the tax authority hasn't imposed any fine yet the penalty has been under discussion for a while.

"Fines and penalties on late filers are not meant to boost revenue collection but used as a tool to deter against late filing," said Ashfaq Ahmed, a member of the Inland Revenue Operations at the FBR, while talking to businessmen during a meeting with Karachi Tax Bar Associati...