Active taxpayers list shows 1.88 million return filers

Active taxpayers list shows 1.88 million return filers

KARACHI: The number of active taxpayers has surged to 1.88 million for the tax year 2018 as of April 07, 2019, according to an official document released on Monday. This marks a significant increase from the previous year, reflecting a growing compliance among taxpayers in Pakistan.

The Federal Board of Revenue (FBR) issued the weekly updated Active Taxpayers List (ATL) for the tax year 2018, showing that the number of return filers had reached 1,886,848 by the week ending April 07, 2019. This is a notable rise compared to the last ATL for the tax year 2017, which included 1.84 million active taxpayers.

The FBR anticipates that the number of active taxpayers will continue to grow, given that the deadline for filing returns for the tax year 2018 has been extended until April 30, 2019. This extension provides taxpayers with additional time to comply with their tax obligations, potentially increasing the overall number of return filers.

The FBR has set an ambitious target, estimating that two million taxpayers will file returns for the tax year 2018. This goal underscores the government’s efforts to broaden the tax base and enhance revenue collection. The increase in the number of active taxpayers is a positive sign for the country’s fiscal health, as it indicates improved tax compliance and a larger contributor base.

The ATL serves as a critical tool for the FBR to monitor and encourage tax compliance. Being listed on the ATL is advantageous for taxpayers, as it ensures eligibility for various benefits, including reduced withholding tax rates on different transactions. Consequently, the growing number of active taxpayers suggests that more individuals and entities are recognizing the importance of filing their returns and staying compliant.

The FBR’s continuous efforts to simplify the tax filing process and extend deadlines reflect a commitment to facilitating taxpayers and improving the overall tax culture in Pakistan. As the filing deadline approaches, it is expected that the number of active taxpayers will further increase, helping the FBR achieve its target and contributing to the nation’s economic stability.