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HomeUncategorizedFBR announces mechanism for late taxpayers seeking inclusion in ATL

FBR announces mechanism for late taxpayers seeking inclusion in ATL

Islamabad: According to a recent piece of news, the Federal Board of Revenue (FBR) has asked late taxpayers to pay an ATL surcharge to be added to the Active Taxpayers List (ATL). It began the statement by stating that the ATL did not include 509,000 late filers who failed to file their income tax returns within the communicated deadline and the extension granted.

Read More: FBR notifies Active Taxpayers List 2020; shares statistics on YoY growth

In a tweet, the taxation agency said that the ATL surcharge for businesses is Rs. 20,000, the ATL surcharge for associations is Rs. 10,000, and the ATL surcharge for individuals is Rs. 1,000. ‘The board has encouraged those taxpayers to pay the appropriate ATL surcharge to take advantage of ATL incentives,’ it said.

It’s worth noting that on March 1, the FBR published the Active Taxpayers List 2020 on its website. It went on to say that 2.62 million people had filed their income tax returns as of February 28, 2021.

Read More: FBR to launch crackdown on non-taxpaying commercial property owners

Involved taxpayers are entitled to a variety of incentives, including relief from withholding tax on a variety of financial activities and reduced tax rates on vehicle/property sales.

For more details, visit our website Property News.


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