Heading: FOREIGN INCOME: IRIS DROPS REDUCED TAX RATE OPTION - 2026-10-09
Published October 9, 2026 Updated about an hour ago By Recorder Report ISLAMABAD: Taxpayers declaring foreign income are facing serious difficulties in filing their income tax returns for tax year 2026, as the Federal Board of Revenue’s (FBR) IRIS portal no longer offers the option to apply reduced tax rates on such income. M. Amayed Ashfaq Tola, President Tola Associates told BUSINESS RECORDER here on Thursday that the “Attribute†tab, which was available in last year’s return form, has been removed from this year’s version of the return on the IRIS portal. In the previous year, taxpayers used the “Attribute†tab to apply the reduced tax rates applicable to foreign income, including foreign dividends and profit on debt, ETC, COVERED UNDER THE AVOIDANCE OF DOUBLE TAX TREATIES. With the tab missing this year, Tola said, taxpayers are left with…