Four Benefits Being At Active Taxpayer List ( Being a Filer)

To become a filer and be on the Active Taxpayer list the last date to file tax returns for Pakistani citizens has been extended by FBR.

The new date to file tax returns for salaried and businesspersons is further extended to 15th October 2021.

The main reason to extend the last date is technical issues with the FBR website which slowed down.

As the last date came closer, the number of users of the FBR website jumped up and hence its server could not bear the load and got slow down.

The four benefits one can have being on the active taxpayer list with FBR are as below.

Tax Concessions

The filers or the people who are on ATL may receive certain benefits in terms of tax concessions on different purchases and investments.

The filer can get tax concessions on the purchases of utilities, vehicles, property, and investment on the purchase of shares.

Withholding Tax Benefits

There are certain benefits for Filer who are on FBR Active Taxpayer List.

The Withholding tax Rate on Prize money on investment of prize bond for Non-Filer is double as compare to Filer.

The same is the case if you invest in saving accounts, bank fixed deposits and certificates.

The taxes on debt income are double for Non-Filer as compare to the Filer.

Avoid Penalties

FBR has announced certain penalties who fail to file their tax returns in due time.

For a salaried individual, the minimum amount of penalty is Rs.10,000 and will increase with the increase in the number of days after the due date.

For Business Individuals the penalty this year is increased from Rs.40,000 to Rs.50,000.

So in order to avoid penalty become a filer and in necessary to be in due course of time.

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Last Date to File Tax Return Extended by FBR

Compliance Checks

Different Govt and Private Organisation do a compliance check when a person purchases the property, apply for a loan or go through the process of registration of a company.

Check FBR site at this Link

A compliance check is positive for the person appearing on the active Taxpayer list rather than a person who is not on the active taxpayer list.

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