LAHORE: The Federal Board of Revenue (FBR) has experienced a significant boost, registering approximately 60,000 new active taxpayers in just three days since the launch of the latest Active Taxpayers List (ATL).
This surge in registrations follows the release of the ATL for the tax year 2023 on March 1, 2024.
Initially, the ATL for tax year 2023 featured 3.35 million active taxpayers, all of whom filed their income tax returns either by the due date or after the deadline with the payment of surcharges. However, in a noteworthy development, the number of active taxpayers has risen to 3.41 million, as reported in the first weekly update of ATL for tax year 2023 released on March 4, 2024. This update includes the names of individuals who updated their taxpayer status until March 3, 2024.
FBR sources indicate that the surge in registrations is a result of individuals rushing to update their active taxpayer status after discovering their names were initially absent from the newly issued ATL for 2023. The ATL, applicable until February 28, 2025, ensures the inclusion of names in the list, thereby providing the benefit of reduced rates of withholding tax during various financial transactions.
The previous ATL for tax year 2022 had set a record high, featuring 5.73 million active taxpayers. While the current ATL showcases a lower number of active taxpayers, FBR authorities express confidence that this figure will witness a substantial increase in the coming days.
The surge in active taxpayers is seen as a positive indicator of the growing tax compliance and awareness among citizens. The FBR’s continuous efforts to broaden the tax base and encourage timely filing of income tax returns are reflected in the increased number of registrations.
This surge is expected to contribute positively to the country’s revenue collection, allowing the government to fund essential projects and services. As the ATL for tax year 2023 remains in effect, individuals are encouraged to update their taxpayer status promptly to avail themselves of the associated benefits and contribute to the country’s economic stability. The FBR remains committed to fostering a culture of tax compliance and transparency to enhance the overall economic landscape.
