Number of active taxpayers for Tax Year 2020 increases to 2.6 million

Number of active taxpayers for Tax Year 2020 increases to 2.6 million

ISLAMABAD: The number of active taxpayers has been increased to 2.6 million by April 25, 2021 for tax year 2020, according to latest data released by Federal Board of Revenue (FBR) on Monday.

The weekly Active Taxpayers List (ATL) for tax year 2020 updated those taxpayers’ names, who filed their income tax returns up to last date or the date was extended by commissioner Inland Revenue or those taxpayers’ names who filed their income tax returns after the deadline but paid surcharge for appearance on the ATL.

The FBR officials said that around 0.43 million taxpayers had enrolled their names in the ATL 2020 by filing returns and paying surcharge after the issuance of first ATL 2020 on March 01, 2021.

The FBR has changed the mechanism for availing reduced rate of withholding tax on various transactions. Previously, the filers were entitled to avail exemptions or reduced rate of withholding tax rates on various types of transactions. But not a person has to file annual return by due date given by the FBR. In case a person fails to file annual return by due date but files after the due date, he will be not entitled to get his name in the ATL. However, it will only be possible after paying of surcharge to appear on the ATL.

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