ISLAMABAD: Federal Board of Revenue (FBR) on Saturday directed tax offices to ensure recovery of penalty amount from corporate taxpayers, who failed to file income tax returns by due date.
The last date for filing income tax returns for tax year 2020 was December 31, 2020. However, the FBR said that a large number of companies had failed to comply with the mandatory requirement.
The revenue body said that the data obtained from PRAL in respect of non-filer companies, which are filers for tax year 2019, goes to reveal that not only that they have not filed tax returns but also that a considerable amount of revenue has not been paid by these taxpayers.
It may be noticed that notices u/s 182 of the Income Tax Ordinance, 2001 were issued to all non-filers currently by the FBR Head Office.
All Chief Commissioners of Inland Revenue (CCIRs) have been directed to monitor progress of penalty progress proceedings particularly in company cases and make sure enforcement of returns and also to realize due revenue. Formation-wise lists of such cases have been sent through email to all concerned.
The FBR directed all the CCIRs to share the progress on enforcement measures in recovery of penal amount and payment of outstanding dues by February 15, 2021.