Federal Ombudsman Challenges FBR Over Wealth Statement Amendment

Federal Ombudsman Challenges FBR on Wealth Statement Issue

The Federal Tax Ombudsman (FTO) has stepped in after complaints against the Federal Board of Revenue (FBR) over changes made in the Income Tax Return Form 2025.

---

📌 What Happened?

FBR had updated the Wealth Statement section of the return form. The new rule asked taxpayers to declare the market value of their assets, both moveable and immovable.

A well-known tax lawyer, Waheed Shahzad Butt, filed a complaint. The FTO immediately issued notices to senior FBR officials, including:

Secretary, Revenue Division

Member (Operations-IR)

Member (Policy)

Member (Legal)

DG (IT & DT)

These officials must appear on September 29, 2025, with detailed replies.

---

🔎 FBR’s Clarification

FBR, however, denied making any “illegal changes”. In its official press release, FBR said:

The return form released on July 7, 2025, already had the column for market value.

Many taxpayers were entering “zero,” so the system now restricts it.

Declaring market value is the taxpayer’s choice, not based on official valuation.

For most taxpayers, these values do not affect tax calculation.

Only high-net-worth individuals must provide exact values under Section 7E.

FBR also assured that taxpayers who already filed their returns don’t need to revise them.

---

⚖️ What’s Next?

With the FTO’s involvement, there is a strong chance that FBR might withdraw or revise the amendment. The hearing on September 29 will decide the way forward.