LAHORE: The Federal Board of Revenue (FBR) released the names of 3.67 million active taxpayers who have successfully filed their annual returns for the tax year 2022.
This publication is part of the FBR’s regular practice of updating the Active Taxpayers List (ATL) on a weekly basis. The latest ATL, updated until May 14, 2023, showcases the names of these active taxpayers.
Since March 1, 2023, approximately 460,000 individuals and corporate entities have filed their tax returns to attain the status of active taxpayers. In March 2023, the FBR released the previous ATL for the tax year 2022, which featured 3.21 million active taxpayers. Last year’s ATL, for the tax year 2021, included returns filed until February 26, 2023, and encompassed a total of 4.19 million taxpayers.
FBR officials have announced that taxpayers, including salaried individuals, business owners, associations of persons, and companies with a special fiscal year, filed returns until September 30 for the tax year 2022. However, companies with a normal accounting year must file their annual returns by December 31. It’s important to note that taxpayers who filed their returns on or after December 15, 2022, along with the required surcharge payment, are eligible for inclusion in the ATL. Those who failed to file their tax returns for the tax year 2022 will not benefit from reduced rates of withholding tax starting from March 1, 2023.
The ATL serves as a transparent record of online Income Tax Return filers for the previous tax year. It is published annually on March 1 and remains valid until the end of February of the following financial year. In 2018, the FBR introduced a provision through the Finance Act, which stated that a person’s name would not be included in the ATL if they failed to file their tax return by the due date. However, the Finance Act of 2019 allowed for the inclusion of a person’s name in the ATL, even if they filed their tax return after the specified due date set by the Income Tax authorities.
The ATL plays a crucial role in monitoring and managing the tax system by allowing tax authorities to ensure compliance with tax laws and regulations. It aids in the identification of taxpayers who have fulfilled their tax obligations, providing a clear picture of the tax base.
Compliance with tax laws and regulations is vital for all taxpayers as it helps them avoid penalties and contribute to the development of the country. The release of the updated ATL by the FBR represents a significant step towards strengthening the tax system and fostering transparency in the country’s tax administration.
