Pkrevenue.com

Tag: ATL

  • KTBA requests FBR to include late-filers’ name into ATL

    KTBA requests FBR to include late-filers’ name into ATL

    KARACHI: The Karachi Tax Bar Association (KTBA) on Thursday requested tax authorities to include names of late filers of income tax returns, who already applied for extension, into Active Taxpayers List (ATL).

    The KTBA requested the chairman of Federal Board of Revenue (FBR) to issue instructions for inclusion of the names of those taxpayers who had duly applied for extension for filing of return of income and the rejection order of which was not passed by the commission and they filed return of income by the requested due date and also those taxpayers who are registered with FBR after June 2018 and are entitled for inclusion as per SRO831(I)/2015 dated August 21, 2015 in the ATL issued by the FBR.

    It said that the instruction will be in accordance with the true spirit of law and for the facilitation of taxpayers who fulfilled their responsibility as compliant taxpayers and will also encourage new taxpayers, consequently helping in increasing the tax base.

    The tax bar further said that it cannot be considered reasonable that these taxpayers should be treated as non-filer for the entire next year equating them with those non-filers who did not even bother to file return at all and you will be agree that both should not be treated in the same manner.

    Under Section 182A of Income Tax Ordinance, 2001 the taxpayers, who filed their returns after due date, have been denied to have their names into ATL for tax year 2018.

  • FBR issues ATL for Tax Year 2018, active taxpayers decline to 1.6 million

    FBR issues ATL for Tax Year 2018, active taxpayers decline to 1.6 million

    ISLAMABAD: Federal Board of Revenue (FBR) on Friday launched new Active Taxpayers List (ATL) for Tax Year 2018, which is showing around 1.6 million taxpayers filed their income tax returns by respective due dates.

    The FBR issues ATL for the latest tax year on every first day of March. In the latest ATL the number of active taxpayers reduced to 1.6 million from 1.84 million as per the last weekly updated ATL for Tax Year 2017, showing fall of 240,000 returns submitted to the tax authorities.

    The number of active taxpayers will not further increased as late return filers have been deprived of appearing on the ATL.

    The previous PML-N government in its last budget announcement made a law to restrict the list with those name, who filed their list by due date.

    Through Finance Act, 2018 a new provision Section 182A was added to Income Tax Ordinance, 2001 for this purpose.

    Section 182A: Return not filed within due date.—

    Sub-Section (1): Notwithstanding anything contained in this Ordinance, where a person fails to file a return of income under section 114 by the due date as specified in section 118 or by the date as extended by the Board under section 214A or extended by the Commissioner under section 119, as the case may be, such person shall—

    (a) not be included in the active taxpayers’ list for the year for which return was not filed within the due date; and

    “Explanation.—For the removal of doubt it is clarified that the provisions of this section shall apply from tax year 2018 and onwards for which the first Active Taxpayers List is to be issued on first day of March, 2019 under Income Tax Rules, 2002.; and

    (b) not be allowed, for that tax year, to carry forward any loss under Part VIII of Chapter IV.

    The appearance on ATL is important for a taxpayer to avail reduced rate of withholding tax rates.

    The appearance of name has become even more important after the amendments brought in to restrict non-filers in purchase / registering new motor vehicles and immovable properties.

    With the issuance of new active taxpayers’ list the FBR will also suspend the weekly updated list as the late filers have been denied to have their names on the list.

  • ATL-2017 shows 1.824 million active taxpayers

    ATL-2017 shows 1.824 million active taxpayers

    Islamabad – The Federal Board of Revenue (FBR) has reported the receipt of an impressive 1.824 million income tax returns for the tax year 2017 by the week ending February 10, 2019.

    (more…)
  • Active taxpayers number surpasses 1.8 million for tax year 2017

    Active taxpayers number surpasses 1.8 million for tax year 2017

    KARACHI, [Date] – In a significant milestone for Pakistan’s tax revenue collection, the number of active taxpayers has exceeded 1.8 million for the tax year 2017, as reported in the latest weekly Active Taxpayers List (ATL) released by the Federal Board of Revenue (FBR).

    The FBR sources have confirmed that the total number of active taxpayers for Tax Year 2017 now stands at 1.801 million, with the ATL 2017 remaining applicable until February 28, 2019.

    The appearance of a taxpayer’s name on the ATL is mandatory for individuals and entities seeking to benefit from reduced rates of withholding tax. This achievement reflects the FBR’s concerted efforts to encourage tax compliance and expand the tax base.

    The FBR had set an ambitious target of reaching 1.8 million active taxpayers for the tax year 2017, a goal that has been successfully attained. Throughout the year, the FBR dedicated its resources and machinery to engage with both existing and potential taxpayers, urging them to file their income tax returns.

    Sources within the FBR revealed that taxpayers who missed the deadline for filing their returns for the tax year 2017 are still in the process of submitting their returns and gaining inclusion in the ATL. However, it’s important to note that this practice will not be allowed for the tax year 2018.

    The government, through the Finance Act of 2018, introduced an amendment to the Income Tax Ordinance, 2001, and created Section 182A. This amendment stipulated that late filers would not be treated as filers or active taxpayers. Consequently, the FBR received a total of 1.55 million returns for the tax year 2018, which will be the final count for the ATL 2018, set to be released on March 1, 2019.

    Despite the initially strict stance, sources within the FBR have indicated that the government is considering allowing late filers to submit their returns and have their names added to the ATL. This reconsideration recognizes the practical challenges and circumstances faced by late filers and aims to facilitate tax compliance while expanding the tax base.

    The achievement of surpassing 1.8 million active taxpayers for the tax year 2017 demonstrates the success of the FBR’s proactive efforts to encourage tax compliance and boost the government’s revenue collection. The ATL remains a valuable tool for promoting tax transparency and ensuring that eligible taxpayers benefit from reduced withholding tax rates.

    It is important to underline that tax compliance is essential for the sustainable growth and development of Pakistan’s economy. A broad tax base ensures that resources are available for critical public services and infrastructure development, ultimately benefiting the nation as a whole.

    As the government considers the possibility of allowing late filers for the tax year 2018, it underscores its commitment to promoting tax compliance while understanding the practical challenges faced by taxpayers. This flexibility is expected to further enhance the tax collection process and contribute to Pakistan’s fiscal stability.