August 2, 2021 (MLN): The Federal Board of Revenue (FBR) witnessed a significant increase of 30% in the number of active taxpayers which has led the total number to 3.53million during FY20 against 2.72mn in FY19, as per the Active Taxpayer List (ATL) released by FBR today.
The government’s constant efforts to bring more people into the tax net in order to expand the tax base have pushed the number of income tax filers in the country.
According to the statistics, the tax deposited with returns was Rs51bn in FY20 compared to only Rs33bn last year, showing an increase of 54%.
According to the information released by FBR, around 11,744 points of sale terminals have been integrated with the real-time reporting system of FBR.
The amount of refunds disbursed was Rs20bn compared to Rs15.7bn paid last year, up by 26.6% in order to prevent liquidity shortages in the industry despite facing the challenge of the fourth wave of COVID-19.
To note, FBR has collected net revenue of Rs413bin during July 2021, which has exceeded the target of Rs342bn by Rs71bn. This represents a growth of about 36% over the collection of Rs303bn during the same period last year.
This outstanding revenue performance is a reflection of sustained economic revival spurred by government policies.
