Lahore: The Federal Board of Revenue (FBR) has released a notice detailing the individuals and corporations liable to file taxes with the government authority by its recently extended December 31 deadline; urging citizens to become active taxpayers, according to news sources.
Read: FBR to amend tax laws to penalise non-filers
Salaried individuals can file their taxes through the Iris e-portal of the FBR, both online and through the FBR’s Tax Asaan app. The app and the portal also allow taxpayers to pay their taxes through a number of online payment methods.
In addition, the notification lists all the people who are liable to file their income tax returns, including the following:
- All registered taxpayers that have NTN
- Anyone charged a tax in the past two years
- Persons (salaried, businessmen, and others) with an annual income of PKR 400,000 or higher
- All companies whose tax period ends between July 31 and December 31
- Owners of land or a flat within municipal limits, cantonment, or Islamabad Capital Territory (500 sq yd or more)
- Owner of land (500 sq yd or more) or flat (2,000 sq ft covered area or more) in an urban area
- Commercial or industrial electricity connection holders with annual bill of PKR 500,000 or more
- Owners of vehicles (1,000 cc or above)
- Welfare institutions or Non-profit organisations as defined in section 2 (36) of Income Tax Ordinance.
- Member of Chambers of Commerce and Industry, any trade or business association, any market committee or a professional body
- Residents with foreign income of USD 10,000 or more, having foreign assets of USD 100,000 or more
Read: FBR shares latest statistics on tax filers’ count
The notification also notes that the deadline to file returns has been set for December 31, 2019.