ISLAMABAD: Federal Board of Revenue (FBR) launched the new Active Taxpayers List (ATL) for Tax Year 2019 enabling taxpayers to avail reduced rate of withholding tax till March 2021.
According to the new ATL around 2.53 million persons and companies filed their returns till February 29, 2020. The FBR issues the new ATL on March 01 every year on the basis of income tax returns filed for the preceding tax year.
The income tax return filing has increased by over 58 percent when compared with 1.6 million returns filed as per the ATL issued on March 01, 2019.
The return filers including salaried persons, business individuals, Association of Persons (AOPs) and companies can check their names on the ATL by visiting How to check ATL status?
The filing of income tax return is mandatory for persons driving taxable income or specified under Section 114 of Income Tax Ordinance, 2001.
The appearance of names on the ATL is only possible after filing income tax returns within due date. In case persons are not on the ATL then the rate of withholding tax shall be increased by 100 percent on various transactions.
Persons fail to file their returns by due date but file after the date will also not qualify to enlist their name on the ATL until fine is not paid to the Federal Board of Revenue (FBR).
Currently the ATL is in applicable on the basis of income tax returns filed for tax year 2018. The FBR will issue new ATL on the basis of returns filed for tax year 2019 on March 01, 2020.
The last date for filing of income tax returns for tax year 2019 is February 28, 2020. The new ATL shall carry the names of those taxpayers who filed their income tax returns up to February 28, 2020.
A taxpayer should check his/her status on the ATL before making transactions in order to avail reduced rate of tax rates.