FBR deletes ‘market value’ column in income tax forms 2025

The Federal Board of Revenue (FBR) has announced that the “Estimated Fair Market Value” column will be removed from the 2025 income tax return forms, after approval from Prime Minister Shehbaz Sharif.

This column had required taxpayers to declare the estimated market value of their movable and immovable assets. However, many taxpayers and experts found it unnecessary and complicated.

To review the issue, the prime minister set up a high-level committee led by Federal Law Minister Senator Azam Nazeer Tarar. The committee also included the petroleum minister, minister of state for finance, attorney general, SAPM on Coordination, finance secretary, FBR chairman, and Member Customs.

After holding a detailed meeting on Friday, the committee recommended that the column be removed to simplify the tax filing process. The recommendation was then formally approved by the prime minister.

With this decision, the government aims to make income tax filing easier and more user-friendly for taxpayers in Pakistan.

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