Islamabad: The Federal Board of Revenue (FBR) has observed a significant increase in tax compliance for 2024, with tax filings doubling and a collection of PKR 123 billion, a notable achievement highlighted by the substantial number of income tax returns submitted by late October.
According to Zameen.Com, the FBR has received 4.821 million income tax returns up to October 26, 2024, compared to 2.407 million during the same period in 2023. This year’s filings included 1.82 million nil income returns, which require no tax payment. This figure significantly exceeds the 859,929 nil returns filed last year, indicating a growing number of taxpayers who report no taxable income.
The data also shows an increase in taxpayer registration, with over 1.16 million new registrations since July 2023, including 706,940 nil-filers. Since July 2024, an additional 528,638 taxpayers have registered, with 363,792 of these being nil-filers. The FBR’s efforts to enhance tax compliance and simplify the tax filing process are evident in these numbers, reflecting a broader move to expand the tax base and increase government revenue through improved compliance and registration.
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