20/09/2024
The Federal Board of Revenue (FBR) has proposed key amendments to the Income Tax Rules, 2002 through SRO 1448(I)/2024 Dated 18th Sep, 2024.
Summary of key Amendments:
1: 𝐀𝐜𝐭𝐢𝐯𝐞 𝐓𝐚𝐱𝐩𝐚𝐲𝐞𝐫𝐬' 𝐋𝐢𝐬𝐭 (𝐀𝐓𝐋): The reference for publishing the Active Taxpayers' List (ATL) is updated to section 181A of the Income Tax Ordinance.
2: 𝐀𝐓𝐋 𝐈𝐧𝐜𝐥𝐮𝐬𝐢𝐨𝐧 𝐂𝐫𝐢𝐭𝐞𝐫𝐢𝐚: A person's name will be included in the ATL if they file their income tax return for the latest tax year by the due date or extended due date (if applicable).
3: 𝐋𝐚𝐭𝐞 𝐅𝐢𝐥𝐞𝐫𝐬: If the return is filed after the due date, taxpayers can still be included in the ATL by paying the surcharge under section 182A.
4: 𝐀𝐓𝐋 𝐔𝐩𝐝𝐚𝐭𝐞 𝐒𝐜𝐡𝐞𝐝𝐮𝐥𝐞: The ATL will now be updated on a 𝐝𝐚𝐢𝐥𝐲 𝐛𝐚𝐬𝐢𝐬 instead of weekly i.e. every Sunday at 24:00.
5: 𝐒𝐩𝐞𝐜𝐢𝐚𝐥 𝐂𝐚𝐬𝐞𝐬 𝐟𝐨𝐫 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐚𝐧𝐝 𝐀𝐎𝐏𝐬: Newly incorporated companies or AOPs incorporated after June 30th will automatically be included in the ATL, even if their tax return is not yet due.
6: 𝐓𝐚𝐱𝐩𝐚𝐲𝐞𝐫𝐬 𝐟𝐫𝐨𝐦 𝐀𝐉𝐊 𝐚𝐧𝐝 𝐆𝐢𝐥𝐠𝐢𝐭-𝐁𝐚𝐥𝐭𝐢𝐬𝐭𝐚𝐧: Taxpayers from Azad Jammu and Kashmir or Gilgit-Baltistan will be included in the ATL if their addresses are registered in these regions.
