ISLAMABAD: Federal Board of Revenue (FBR) advised late filers to pay surcharge to appear on the Active Taxpayers List (ATL) for tax year 2020.
The FBR a day earlier issued the ATL for tax year 2020. The total number of active taxpayers for the tax year 2020 is 2.18 million. However, according to the FBR received 2.63 million income tax returns for the tax year under review.
The FBR said that about 0.59 million are those taxpayers who filed their returns after due date. So their names are not on the ATL 2020.
“These late filers are not included in the ATL as they have not paid surcharge,” the FBR said, adding that those taxpayers can get ATL status after paying surcharge.
The amount of surcharge for appearance on the ATL is Rs20,000 for corporate entity, Rs10,000 for Association of Persons (AOP) and Rs1,000 for individuals.
The FBR said those who have not filed their annual returns for tax year 2020 they can file their returns now and avail benefits of the ATL.
The ATL ensures exemption of withholding tax to return filers on various transactions. Further, it also allows return filers to avail reduced rate of withholding tax on many other transactions.