The Federal Board of Revenue’s (FBR) list of income tax active taxpayers (ATL) now stood at a record number of 5.3 million as of December 26, 2023. The FBR’s list revealed that the number of individual taxpayers has reached 3.69 million as per income tax updated ATL. The Federal Board of Revenue (FBR’s) data further showed that the number of corporate/association of persons (AOPs) has reached 1.67 million under the ATL. According to tax experts, people prefer to file returns to avoid heavy penalties on non-filers. The rates of withholding taxes have been substantially increased for the non-filers of income tax returns. The gap between the tax rates for the filers and non-filers has been widened resulting in an increased number of filers at the ATL issued by the FBR.

Source: Pro Pakistani