ISLAMABAD : The Federal Board of Revenue (FBR) has received record 3.06 million income tax returns for tax year 2019, according to the weekly Active Taxpayers List (ATL) issued on Monday.
The number of returns for tax year 2019 is based on returns filed till January 24, 2021. The record return filing was made possible following effective measures taken by the tax authorities to encourage persons having taxable income to file their return. The number of return filers for tax year is at 2.316 million till January 04, 2021 for tax year 2020. The FBR will issue ATL for tax year 2020 on March 01, 2021. Therefore, the ATL 2019 shall prevail till February 28, 2021. The filing of annual income tax returns is mandatory for persons having taxable income or those required to file return on certain transactions or having assets. The appearance of name on the ATL is subject to filing of return by due date or after due date with payment of penalty amount. The benefit of appearance on the ATL is that a person can avail reduced rate of withholding tax, which is 100 percent higher on those persons not appearing on the ATL.
