business
Saturday Mar 27 2021
By
Web Desk

FBR extends date for profile update to facilitate tax payers

By
Web Desk
Federal Board of Revenue (FBR)'s logo.
  • FBR has issued a circular extending the date to facilitate the taxpayers to update their profile till 30th June 2021.
  • Earlier, the taxpayer’s profile was required to be updated till 31st March 2021.
  • Last year, PTI-government made it mandatory for all taxpayers to upgrade their profiles.


ISLAMABAD: The Federal Board of Revenue (FBR) has issued a circular extending the date to facilitate the taxpayers to update their profile till 30th June 2021 as required under Section-114A of Income Tax Ordinance-2001, The News reported on Saturday.

Earlier, the taxpayer’s profile was required to be updated till 31st March 2021. The taxpayer's profile is a piece of basic information that should be updated by the tax filers regularly.

Last year, the PTI government made it mandatory for all taxpayers to upgrade their profiles.

The tax regulatory authority has also warned non-compliant taxpayers that their names will be removed from the Active Taxpayers List (ATL) and linked re-inclusion with the payment of a surcharge if they do not update their profiles.

Read more: Former FBR chief Shabbar Zaidi talks about why he left revenue body

FBR spokesperson Nadeem Rizvi, while speaking to Dawn, has said that an updated profile is important to send the refund amount directly to the taxpayer’s bank accounts and the IBAN is needed for that.

He said the re-inclusion of taxpayers in the ATL will be subject to payment of penalty.

The FBR official explained that taxpayers will have to share information including cell numbers, email addresses, business addresses, utility consumption particulars, bank accounts with IBAN, etc.

"This is one of the measures for the documentation of economy," he stressed.