Karachi, September 9, 2024 – The Federal Board of Revenue (FBR) has achieved a significant milestone by adding 2.2 million new taxpayers to the Active Taxpayers List (ATL) for the year 2023.
The updated list, released on March 1, 2024, has now reached a total of 5.54 million active taxpayers as of September 8, 2024, marking a substantial increase from the 3.35 million reported at the launch.
This expansion in the tax base is attributed to the higher tax rates and stringent measures introduced through the Finance Act, 2024. FBR officials highlighted that these changes have compelled many previously non-compliant individuals and businesses to file their annual tax returns. The rise in active filers reflects the FBR’s ongoing efforts to promote tax compliance and widen the national tax net.
The government has set an ambitious target of increasing the number of active taxpayers to 10 million, which is seen as a crucial step toward improving Pakistan’s tax-to-GDP ratio. Widening the tax base is expected to enhance fiscal transparency, bolster economic stability, and reduce dependency on external borrowing. By encouraging more individuals to fulfill their tax obligations, the FBR is playing a critical role in ensuring the country’s financial health.
The FBR has been releasing weekly updates of the ATL since its initial publication, showcasing a steady increase in the number of taxpayers filing their income tax returns. The latest figures reflect the positive impact of recent reforms aimed at boosting tax collection, which include more stringent penalties for non-filers and incentives for timely compliance.
Looking ahead, the FBR is optimistic that the number of active taxpayers for the tax year 2024 will continue to grow. The deadline for filing income tax returns for the current year is set for September 30, 2024. With the introduction of tougher penalties for late filers, it is expected that more individuals and businesses will submit their returns before the deadline.
The surge in active taxpayers is seen as a promising development for Pakistan’s fiscal management, highlighting the effectiveness of the FBR’s measures to enforce compliance. As the country works towards a more robust and transparent tax system, the FBR remains committed to further expanding the tax base and ensuring that tax laws are adhered to across the board.
This latest achievement is a testament to the government’s broader strategy to strengthen fiscal responsibility and promote economic growth, with a focus on self-reliance and reducing the fiscal deficit.