ISLAMABAD: Federal Board of Revenue (FBR) has received 1.824 million income tax returns for tax year 2017 by week ended February 10, 2019, according to weekly Active Taxpayers List (ATL) released on Monday.
The ATL of tax year 2017 is exhibiting a continuous increase despite the fact that it will expire on February 28, 2019.
The ATL has shown increase of around 8,000 returns filed during the last week.
The FBR will issue new ATL for tax year 2018 on March 01, 2019 and it will be final list because laws has been made to stop further issuance of weekly ATL.
As per present exercise the FBR includes all the return filers into ATL irrespective of annual return filed after due date.
However, through Finance Act, 2018 the right to appear into ATL for returns filed after due date.
A new section 182A has been inserted to Income Tax Ordinance, 2001 which stated: “where a person fails to file a return of income under section 114 by the due date as specified in section 118 or by the date as extended by the Board under section 214A or extended by the Commissioner under section 119, as the case may be, such person shall—
(a) not be included in the active taxpayers’ list for the year for which return was not filed within the due date; and
“Explanation.—For the removal of doubt it is clarified that the provisions of this section shall apply from tax year 2018 and onwards for which the first Active Taxpayers List is to be issued on first day of March, 2019 under Income Tax Rules, 2002.; and
(b) not be allowed, for that tax year, to carry forward any loss under Part VIII of Chapter IV.”
ATL is known to be important document for availing reduced rate of withholding tax rates.
Further, the government has imposed certain restrictions on non-filers for purchasing immovable properties and motor vehicles through Finance Act, 2018.