FBR See Dip In 2020 Tax Returns Despite Reforms and Hopes

The Federal Board of Revenue (FBR) did not receive tax file returns from 800,000 registered taxpayers despite the eases it introduced

Photo of Web Desk Web DeskDecember 17, 2020

Despite the staunch efforts of the government to increase the tax net, some 800,000 registered taxpayers in Pakistan did not file tax returns in the year 2020, leaving the Federal Board of Revenue (FBR) in the doldrums.

Therefore, the FBR has decided to penalize taxpayers who have resorted not to file tax returns this year despite that they had in the past years.

The notices have been issued to all such tax filers via the e-filing system of FBR, IRIS.

 

The government was under pressure to extend the deadline for filing returns however it did not go for it and instead served notices to non-payers.

In the tax year of 2018, the Pakistan Tehreek-e-Insaf (PTI) government received the expected number of tax returns when it extended the return filing date to August 9, 2019, from September 30, 2018.

FBR officials said that some 300,000 filers sought an extension in the filing date after December 8 and they have been given 15 more days to avoid a penalty of Rs 40,000.

While talking with News360, the economist Ashfaq Tola said that it had remained a practice that the tax filing date was extended every time.

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“The people were expecting that they will get the extension like past”, he added.

He also blamed tax lawyers for a huge number of non-taxpayers in the country as they assure their clients that not filing returns would not land them in trouble anyway.

Removing the misconception, the expert told that every person, whether retired or earning less than Rs 600,000 annually, should register as a filer as they would be penalized on purchasing property or any other asset.

Photo of Web Desk Web DeskDecember 17, 2020
Photo of Web Desk

Web Desk

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