Tax return filers hit 1.9 million

KARACHI: Number of income tax returns hit a new high of 1.9 million as the filing deadline is around the corner. The FBR updated its active taxpayers list (ATL) for tax year 2018 with tax filing up to April 14.

The FBR is expecting more than two million returns by April 30, the last date for returns filing for tax year 2018. The last date for filing of income tax returns was previously extended till March 31 for taxpayers who failed to file returns up to December 15, 2018 in case of salary and business individuals and December 31, 2018 in case of companies. The FBR again extended the date to April 30 to give another opportunity to non-compliant taxpayers.

The revenue body received 1.84 million income tax returns for tax year 2017. But, the tally dropped to 1.59 million according to the previous ATL for tax year 2018. Number of active taxpayers is rapidly increasing after the date extension. Inclusion in ATL is important to avail reduced withholding tax rates.

The date may further be extended as the government planned to soon unveil an amnesty scheme to whiten concealed assets. The FBR received around 78,000 income tax returns in the tax amnesty last year.