The Federal Board of Revenue (FBR) has extended the deadline for the furnishing of the Taxpayer’s Profile required to be submitted under Section 114A to 30 June 2021, and issued a circular in this regard on Friday.
Earlier, the FBR had also issued a statement declaring that the names of thousands of taxpayers will be struck off the Active Taxpayers List (ATL) for their failure to either submit or update their taxpayer profiles by 31 March 2021 under Section 114 A of the Income Tax Ordinance, 2001.
The FBR has decided to proceed with this decision despite the risk of contracting the tax base
Officials from the FBR told Propakistani that it may remove the names of the taxpayers who have not updated their profiles, and will ask them to submit the prescribed penalty, and that it had extended the deadline for the submission of the Taxpayer’s Profile to 31 March.
The withdrawal of the names of taxpayers from the ATL may affect a large number of taxpayers who will not be able to either file or upgrade their taxpayers’ profiles by 31 March.
However, the FBR officials added that upon the filing or updating of their profiles, such persons will be allowed to be placed back on the ATL on the condition of the payment of a surcharge of Rs. 20,000 in the case of a company, Rs. 10,000 in the case of an association of persons, and Rs. 1,000 in the case of an individual.
Courtesy: Pro Pakistani