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FBR publishes active taxpayers’ list for tax year 2020

FBR publishes active taxpayers’ list for tax year 2020

ISLAMABAD: The Federal Board of Revenue (FBR) published on Monday the Active Taxpayers’ List (ATL) for Tax Year 2020.

According to the ATL, more than 2.6 million income tax returns were filed during the tax year under review as compared to 2.4 million filed during the previous tax year, showing an increase of 8 per cent.

The FBR said the names of those who filed income tax returns within the stipulated time and after the deadline was extended figure on the ATL.

Persons on the ATL can avail many benefits. They are exempted from withholding tax on cash withdrawals, other bank transactions, payment of fee to educational institutions, etc.

Besides, they can pay lesser tax on imports, goods, services and contracts, profit on debt, prize and winnings, purchase of motor vehicles and sale of property etc.