Karachi, September 19, 2023 – The Federal Board of Revenue (FBR) has announced that individuals and entities filing their income tax returns after the deadline will not be included in the Active Taxpayers List (ATL) for the year 2023.
According to FBR officials, the final date for submitting annual tax returns for the tax year 2023 is September 30, 2023. This deadline applies to all taxpayers, including salaried individuals, business owners, associations of persons (AOPs), and companies with special fiscal years, who are required to file their annual returns.
Officials emphasized that those who file their income tax returns after the deadline will not be included in the ATL. The ATL is a crucial document that allows taxpayers to avail themselves of reduced tax rates and certain benefits.
Under Section 182A of the Income Tax Ordinance, 2001, individuals and entities can be added to the ATL even after the deadline by paying a surcharge. The surcharge rates are as follows:
Twenty thousand rupees for companies.
Ten thousand rupees for associations of persons.
One thousand rupees for individual taxpayers.
Taxpayers who are not included in the ATL will face restrictions, including being denied the ability to carry forward losses, access refunds, and receive payments for delayed refunds.
The FBR is set to release the ATL for the tax year 2023 on March 1, 2023. This list will include the names of individuals and entities who filed their returns by the due date as well as those who filed their returns after the due date but paid the necessary surcharge.
It is imperative for taxpayers to meet the filing deadline and comply with tax regulations to maintain their status as active taxpayers and access the associated benefits and privileges.