FBR extends deadline to file tax returns till March 31 – DunyaNews Pakistan


  Last Updated On 17 March,2019 08:18 am

The ATL list was issued on March 1.

(Web Desk) – The Federal Board of Revenue (FBR) on Friday extended the last date for filing of income tax returns for the tax year 2018 until March 31 in order to facilitate mainly those taxpayers who were excluded from the Active Taxpayers’ List (ATL) for availing lower rates of withholding taxes.

The ATL list was issued on March 1, as of which the lower rates of withholding taxes are only available to those taxpayers whose names appear on the list.

The FBR took this decision in view of numerous representations by various trade bodies and organizations along-with other taxpayers seeking extension in the date of filing of returns for Tax Year 2018.

It said that the FBR has extensive plans to pursue and legally proceed against those persons who are liable to file returns but don’t file it by this extended date.

The names of certain taxpayers had been excluded from the ATL primarily because they had filed their tax returns after the Dec 17, 2018 due date. Additionally, many genuine taxpayers failed to file their returns largely because of overloading and the slow speed of the FBR system.

As per a circular issued on Friday, the government has extended the last date for the filing of income tax/statement of final taxation, which were due on Aug 31, 2018 and earlier extended till Dec 15, the last date for filing of returns of total income and statements of final taxation for companies, individuals and association of persons which were due on Sept 30 and earlier extended till Dec 15, as well as, the date of filing of returns of total income and statement of final taxation for companies which were due on Dec 31. The last dates have been extended until Mar 31 for all types of return filing.

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The government had introduced an amendment in the Finance Act 2018 that those taxpayers who do not file their tax returns within the due date will not be included in the ATL in order to penalise them.

Prior to this amendment, the FBR had introduced an amendment in the income tax law as of which those taxpayers who do not file their returns before the due date would automatically be selected for an audit.

Later, the government withdrew this and replaced it with a provision that the name of late filers’ names would not be included in the ATL.

 





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