Active taxpayer’s list now updated daily by FBR

October 25, 2024 (MLN): The Federal Board of Revenue has announced amendments to the Income Tax Rules, 2002, under which the Active Taxpayer’s List will now be updated daily, replacing the previous practice of weekly updates.

This adjustment ensures that taxpayers who meet their filing obligations are reflected as active taxpayers promptly, enhancing real-time accuracy and facilitating compliance.

Taxpayers who submit their Income Tax Returns (ITR) for the latest tax year (2024) by the due date, or within any extension granted, will be included in the ATL immediately.

Additionally, taxpayers who file their returns after the due or extended date may still be included in the ATL upon payment of the surcharge specified in section 182A of the Income Tax Ordinance.

The previous system, whereby the ATL was shifted annually in March, has been revised.

Now, a taxpayer’s inclusion in the ATL will occur immediately upon filing the ITR, streamlining the process and ensuring timely recognition of compliance.

These amendments represent a significant step forward in enhancing the efficiency and transparency of FBR’s operations.

By adopting a more dynamic and responsive approach to ATL updates, FBR is committed to facilitating taxpayers and ensuring smoother processes for the benefit of all stakeholders.

Copyright Mettis Link News