ISLAMABAD: The number of Income Tax return filers has declined to 1.07 million during the current fiscal year as compared with the last years 1.2 million.
According to Federal Board of Revenue (FBR), though the Board showed an impressive 19 percent revenue growth in the current year and the number of Income Tax return filers had also risen to 1.2 million as per figures of Tax Year 2016, the number of filers for the current year had declined to 1.07 million with a majority of them not contributing any tax in all categories.
To the dismay of FBR, the number of registered tax-filer companies had also fallen from 32,391 in 2016 to just 3,333 in 2017 as per data.
A further breakdown of the data reveals that in 2014, 29,528 companies filed IT returns and contributed Rs349 billion to national exchequer. But out of 29,528 companies 14,440 or 48.9 percent (means about half) didn’t pay any tax. Then in 2015 number of companies which filed income tax returns rose to 31,265 and contributed Rs390 billion as tax. The companies which paid zero tax slightly rose as they were 15,506 or 49.6 percent in round figure about 50 percent. Again in 2016, 32,391 companies filed income tax returns and deposited Rs431 billion with the FBR as tax. Again 50 percent of companies didn’t pay any tax. Then came 2017 when all figures went nose dip down. Number of companies which filed tax returns had sharp declined with totalling 3,333 and their contribution fell to Rs168 billion. Companies which did not pay any tax were 2008 or 61 of total companies which filed tax returns.
In 2014 total Association of Persons (AoPs) were 45,131 and they paid Rs37 billion as tax and 17,128 or 38 percent of total AoPs didn’t pay any tax. Same was the case in 2015 as total 47,895 AoPs paid Rs49 billion and number of companies which didn’t contribute to national exchequer were 18,846 or 37 percent of total companies which paid tax. In 2016, 50,047 companies filed income returns with FBR and contributed Rs54 billion.
Out of total 50,047, 18,846 or 38 percent didn’t pay any tax. Year 2017’s figures were surprising as number of AoPs fell to 40,480 and their tax deposited with FBR was Rs64 billion. This year 13,865 or 34 percent don’t pay any tax. Same is the case of individuals as 30 percent of registered individuals didn’t pay any tax.
