FBR reports record 5.6m Income Tax Filers in 2023

The Federal Board of Revenue (FBR) Monday announced that the number of income tax return filers in Pakistan for the year 2023 has reached an all-time high, surpassing 5.6 million, reported 24NewsHD TV channel.

According to the FBR's Active Taxpayer List (ATL), released on September 16, 2024, the list saw an increase of 60,000 taxpayers.

Tax experts attribute the expansion of the tax base to the higher tax rates for non-filers and stringent measures introduced in the Finance Act 2024, which have compelled more individuals and businesses to file returns. Increased penalties for non-filers and incentives for timely submissions have also played a key role.

FBR officials expect the number of active taxpayers to continue rising before the September 30, 2024, deadline for filing returns, warning that strict penalties await late filers.

Reporter: Ashraf Khan