FBR receives over 2.3m tax returns for TY18

MUHAMMAD ALI

KARACHI: The Federal Board of Revenue (FBR) has so far received more than 2.34 million income tax returns for Tax Year 2018, depicting over 35 percent growth in number of filers as compared to 1.7 million returns received last fiscal year.

According to sources, the board has so far received 2,339,386 income tax returns for TY 2018, which is over 35 percent higher than 1.7 million IT returns filed in preceding fiscal year. Sources said that FBR was expecting to receive 4 million IT returns by the end of December, 2019, which the sources termed is an achievable target.

Replying to a question, sources said that over 1,400 persons were identified for proceedings based on mapping of 365 plazas in Karachi, of which, over 1,200 NTNs were allotted but less than 400 persons filed returns.

Furthermore, sources said that proceedings under section 114 and 121 of the Ordinance had been initiated against around 900 persons and added that around over 400 new taxpayers were enrolled who purchased high value flats in the city. Sources said that Broadening of Tax Base (BTB) Zone-II, Karachi during July 1, 2019 to July 30, 2019 enforced 18,102 returns from non-filers till July 30, 2019; adding that the BTB recovered Rs. 24 million against the tax demand of over Rs. 800 million. Similarly, the BTB zone has finalized 17 assessments against high net worth individuals and recovered Rs. 22 million against tax demand of Rs. 85 million.

In sales tax, the zone out of over 170 cases registered some 18 business and deposited around Rs. 6 million into kitty, sources said and added that over 3000 cases of unregistered salaried individuals of 10 organizations got registered and being pursued for filing of returns 2018.

They answered that the withholding tax statements of companies registered in Large Taxpayers Unit (LTU) Karachi and the income details of famous unregistered persons working in media were being analyzed for crackdown against non-filers. In addition, the exercise to collect data of property tax from excise and taxation department and to collect records of persons, who give property on rent in Karachi from police are being initiated and police to identify non-filers, sources maintained.