Islamabad: The Federal Board of Revenue (FBR) recently notified its Active Taxpayers List (ATL) for Tax Year (TY) 2020, stating that as many as 2.62 million individuals had filed their income tax returns till February 28, 2021 – a news source reported on March 2.
According to the taxation agency, some 2.43 million individuals had filed their income tax returns during the same period in 2019. It further reported an 8% increase in the number of taxpayers recorded in TY2020 as compared with taxpayers count recorded in TY2019.
The Active Taxpayers List 2020 contains the names of both regular and late filers (individuals who submitted their tax returns after the expiry of the original deadline announced by the FBR).
It is pertinent to mention that active taxpayers are entitled to various benefits such as exemption from withholding tax on different financial transactions and low tax rates on vehicle/property purchases.