FBR clarifies the market value column changes in 2025 income tax return form
The Federal Board of Revenue (FBR) has explained the recent changes made to the income tax return form for 2025. The clarification comes just a few days before the final deadline for filing returns. FBR has also confirmed that the deadline will not be extended beyond 30 September 2025.
Concern Over New Column in IRIS Form
Some reports suggested that a new column was added in the IRIS return form, asking taxpayers to declare the market value of their assets. This caused worry among taxpayers as the deadline was very near.
The FBR explained that no new Statutory Regulatory Order (SRO) has been issued. The column was actually added earlier on 18 August 2025. Check UAE Entry Permit 2025 Passport External Cover Page Now Required.
Disclaimer: The values entered in the Estimated Current Market Value column are collected only for academic and policy research purposes. These details will not be used to calculate your tax liability or to reconcile your wealth statement.
Purpose of Market Value Declaration
According to FBR, the aim of this column is to collect reliable data about asset values. This will help the government in better policy-making.
The board made it clear that:
- Declaring the market value of assets will not affect tax liability.
- It will not be used to start legal action against taxpayers.
- The rule was already part of the return form (page 66), but many people were entering zero, which is now restricted.
Voluntary Disclosure, No Extra Tax
The FBR further said that taxpayers are free to enter the market value of their property at their discretion. No notice will be issued if any error is found in this detail.
Wealthy individuals are already declaring their assets under Section 7E, while other taxpayers only need to provide a value close to the actual market price.
No Impact on Tax Calculation
The authority stressed that the declared values will:
- Not be used for tax calculations.
- Not be compared with the wealth statement.
- Not require those who have already filed returns to re-submit.
In short: The new column is meant only for data collection. It does not increase taxes, will not be used against taxpayers, and the filing deadline remains 30 September 2025.
The Federal Board of Revenue (FBR) has clearly stated that the last date for filing income tax returns will not be extended beyond 30 September 2025. Every taxpayer must submit their return within this deadline. Despite the concerns raised due to changes in the return form, FBR confirmed that the timeline remains firm and no relaxation will be given.
