TAXES AND JOBS UPDATES
Nadeem Butt FCA, FPFA, FCFMA/ Taxation Trainer / Director ITF
- Chairman Lahore Tax Bar Academy (2018 - 2025) / Managing Partner - Nadeem & Co. Chartered Accountants
INCOME RETURN FILING INCREASES SHARPLY BY 21PC
The filing of income tax return filing has increased sharply by 21 percent to 1.415 million by week ended June 3, 2018 as compared with return filing a year ago.
According to latest Active Taxpayers List (ATL) for the week ended June 03, 2018 issued on Monday, the number of return filers increased to 1,415,222 as compared with 1,173,787 as on June 07, 2017.
The FBR updates ATL on weekly basis to include the names of return filers during the week. The inclusion of names in the ATL is necessary for compliant taxpayers to receive benefits of reduced withholding tax rates.
The significant increase in return filing can be attributed to measures taken by the government during the past couple of years by increasing burden on non-filers.
In the budget 2018/2019 the government also amended the Income tax Ordinance, 2001 under which only those taxpayers names would appear on the ATL, who file their returns by due date.
At present the FBR allows all those persons’ names on the ATL, who file their returns even after the due date of filing the returns.
Regards,
Nadeem Butt - (FCA), FPFA, B.com
Chartered Accountant
Chairman LTBA - Tax Academy (2018-19 & 2017-18)
Member Publications Committee of ICAP (2017-18)
Member Practice Support Committee of NRC of ICAP (2017-18)
Member Finance,Taxation & Sales Tax Committee of LCCI (2017-18)
Vice Chairman LTBA - Tax Academy (2016-17)
Member (Special Invitees) Taxation Committee of LCCI (2012-13)
Audit and Tax adviser of all Pakistan Cottage Industry & Small Traders Association
Principal of Institute of Taxation and Finance
20+ Years experience as Professional Author and Teacher of Taxation
Financial Adviser of DAWAT-E-ISLAMI
Ph: 042-35408638
Cell: 0333 / 0301 / 0315 / 0300 - 4245240