ISLAMABAD: Federal Board of Revenue has received more than 1,163,611 tax returns during the 10 months and 10 days of current fiscal year (2016-17), which is an all-time record.
The FBR received 975,000 tax returns during the same period of previous financial year (2015-16).
Sources said that the Board could achieve this milestone after legal actions taken by FBR Chairman Dr Muhammad Irshad and Member Operations Inland Revenue Rehmatullah Khan Wazir in February 2017 against non-filers under Income Tax Ordinance 2001.
According to FBR data, 1,061,510 million individuals filed their tax returns in the corresponding period against 906,369 returns of same period of previous fiscal year. Associations of persons submitted 47,194 returns against 42,406 returns of last FY, while companies filed 29,929 tax returns during the current fiscal against 26,247 of the same period of previous year.
The FBR estimates around 1.3 million return filers by June 30, 2017 through strict action against non-compliant taxpayers. The FBR also estimates around 1.8 million returns for tax year 2016 before issuance of new ATL in March 2018. The number of active taxpayers in the first ATL – 2016 issued this March was 1.01 million.
