FBR Shares Deadline to Eliminate Names of Nonpayers in 2023
Islamabad: The Federal Board of Revenue (FBR) has issued a circular extending the deadline for submitting taxpayer profiles to June 30.
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According to a published news article, the board also issued a warning against non-compliance, indicating that the defaulted names would be removed from the Active Taxpayers List (ATL) and would be subject to a fee.
While individuals in default will either pay a daily penalty charge and an extra premium for inclusion on the ATL list, taxpayers on the ATL list are offered lower tax rates.
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Additionally, the FBR may charge a penalty of PKR 2,500 per day for failure to file under Section 182 of the Income Tax Law and a minimum of PKR 10,000 for failure to maintain a profile.
Nadeem Rizvi, a spokesman for FBR, stressed the significance of IBAN and an updated profile in order to deliver the refund amount straight to the bank account.
He added that taxpayers must provide IBAN with information such as cell phone numbers, email addresses, and business addresses, and that the taxpayer’s profile must include details about their business, such as addresses, leases for storage facilities and retail stores, copies of utility bills, proof of property ownership, and rental agreements.
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