The country’s Active Taxpayers List (ATL) has reached number of 4.22 million active taxpayers. This growth occurred following the implementation of cash withdrawal conditions on July 1, 2023.
The (Federal Board of Revenue) FBR recently published an updated ATL for the tax year 2022, incorporating returns filed until July 23, 2023. Sources within the FBR revealed that the number of active taxpayers has experienced a remarkable surge in the past month, primarily due to the government’s new measures aimed at discouraging non-filers of income tax returns.
The Finance Act of 2023 introduced a provision for withholding tax on cash withdrawals from the banking system, which came into effect on July 1, 2023, incentivizing tax compliance.
The ATL is continually updated by the FBR on a weekly basis, including the names of return filers who have fulfilled their tax obligations during that respective week. Being part of the ATL comes with several benefits for taxpayers, such as the application of lower income tax rates and certain exemptions from tax payments.
