FBR

FBR Adds 60,000 New Active Taxpayers in Just Three Days After ATL Launch

FBR Adds 60,000 New Active Taxpayers in Just Three Days After ATL Launch

March 5, 2024

Karachi, March 4, 2024– The Federal Board of Revenue (FBR) has experienced a remarkable uptick in registrations, adding approximately 60,000 new active taxpayers within just three days of launching the latest Active Taxpayers List (ATL). This surge follows the release of the ATL for the tax year 2023 on March 1, 2024.

The initial ATL for the tax year 2023 listed 3.35 million active taxpayers, comprising those who filed their income tax returns on time or later with applicable surcharges. The number of active taxpayers has since increased to 3.41 million, according to the first weekly update of the ATL released on March 4, 2024. This update includes taxpayers who regularized their status by March 3, 2024.

Sources at the FBR suggest that this sharp increase is due to individuals and businesses rushing to secure their active taxpayer status after realizing they were not included in the first iteration of the ATL. The updated list, effective until February 28, 2025, offers benefits such as reduced withholding tax rates on various financial transactions.

While the previous ATL for the tax year 2022 reached a record high of 5.73 million active taxpayers, the current ATL started with a lower count. However, FBR officials are optimistic about achieving substantial growth in the coming weeks as more taxpayers come forward to update their status.

The recent surge in active taxpayers is seen as an encouraging sign of increasing tax compliance and awareness among the public. The FBR’s continuous efforts to broaden the tax base and promote timely tax return filing are reflected in the rapid increase in registrations.

The influx of new taxpayers is expected to positively impact the country’s revenue collection, enabling the government to fund essential projects and public services. The ATL for the tax year 2023 remains in effect, and the FBR encourages all eligible individuals to update their taxpayer status to enjoy the benefits of being on the list.

This significant rise in active taxpayers underscores the FBR’s commitment to promoting tax compliance and transparency. The organization remains dedicated to fostering a culture of responsibility and supporting the overall economic growth of Pakistan.