The Federal Board of Revenue has updated its Active Tax Payers List (ATL) with 2.4 million tax returns filed in fiscal year ending June 2019. The number of tax filers dropped 13% compared to the 2.8 million that filed their taxes last year.
The official deadline to file income tax return for FY2019 was September 30, but the national exchequer had been extending the deadline to increase tax collection. However, it didn’t give further extensions and closed the year on February 29, 2020.
The FBR said tax collection in February was 17% higher than the amount they collected in the same month last year.
Giving a breakdown of tax filers, the FBR said 2.3 million filers were individuals, 62,403 were Association of Persons and 40,988 were companies.
Those who didn’t file their income tax returns have been excluded from the ATL. The current tax year will end on June 30, 2020.
The tax collection figures for FY2019 have not been made public yet, but the FBR had collected Rs2.4 trillion in the first seven months of FY2019, up 17% compared to Rs2 trillion of the preceding tax year.