ISLAMABAD: The Federal Board of Revenue (FBR) has received about 45 per cent more income tax returns from salaried and non-salaried individuals, associations of persons and companies for the tax year 2021 by Oct 15 as compared to the last year.
The board received 2.562 million returns until the last date of their submission on Oct 15 as compared to 1.772m returns filed in the corresponding period of tax year 2020 until Dec 8, which was the last date.
An FBR spokesperson, Asad Tahir, said the board received Rs48.47 billion with tax returns in tax year 2021 as against Rs29.56bn deposited last year, an increase of 64pc.
The breakdown shows that the number of individuals who filed returns in 2021 has registered a growth of 44.4pc as it has been recorded at 2.487 million compared to 1.723m returns filed last year.
Gets Rs48.47bn in income tax
This is an unprecedented increase in the number of filers of tax returns in a limited extended time for the filing of tax returns.
The tax received with individual returns stood at Rs20.75bn this year as against Rs14.98bn over the corresponding period of last year, indicating a growth of 38.5pc.
The returns filed by association of persons stood at 65,463 in 2021 against 42,454 filed last year, showing an increase 54pc. The tax amount received with these returns stood at Rs4.685bn this year as against Rs2.432bn of the last year, reflecting a growth of 92.6pc.
The last date for the filing of corporate returns is Dec 31. However, the companies’ returns received by the FBR until Friday stood at 9,240 against 7,007 filed last year until Dec 8, 2020, indicating a growth of 31.8pc.
The amount deposited with the corporate returns stood at Rs23.02bn this year against Rs12.14bn of the last year, a growth of 89.6pc.
This year, the government has extended the last date for filing of returns only to Oct 15. However, the FBR has allowed individuals to place manual requests with chief commissioners of Inland Revenue to get 15-day extension for filing their returns.
Therefore, it is reassuring to witness that the FBR is already zeroing in on three million returns received and Rs54.7bn tax collected in the entire tax year 2020, as on June 30, 2021.
This phenomenal growth has been made possible through a robust strategy and a comprehensive print and electronic media campaign launched by the FBR. It was further reinforced by a vibrant campaign launched through national heroes, celebrities and public figures whose video messages went viral on social media. In yet another innovative initiative, the FBR had mobilised all cellular companies to deliver a bilingual customised SMS to their combined 128.6 million subscribers across the country.
According to the FBR, the government had decided not to extend the Oct 15 deadline with a view to restoring the credibility and predictability of the final date, and promoting tax discipline.
Published in Dawn, October 16th, 2021