The Federal Board of Revenue (FBR) will publish the Active Taxpayers’ List (ATL) for tax year 2020 on March 1, 2021.The list will be published in accordance with the provisions of Rule 81B of Income Tax Rules 2002, said an FBR statement on Wednesday. FBR’s ATL is linked with income tax returns for tax year 2019 at present, it said. “ATL is a central record of online income tax return filers for the previous tax year and it is published every year on March 1 and remains valid till the last day of February of the next financial year,” it said. According to the statement, persons on the ATL could avail many benefits and are not subjected to withholding tax on cash withdrawals, other banking transactions and payment of fee to educational institutions. Similarly, tax on imports, dividends, goods, services and contracts, profit on debt, prize and winnings, purchase of motor vehicles, purchase and sale of property is withheld at a lesser rate.
Published in The Express Tribune, February 25th, 2021.
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