Islamabad, Pakistan: Experts have urged the Federal Board of Revenue (FBR) to provide an additional seven days for stakeholders to understand and comment on SRO 1448(I)/2024, which outlines changes to the Active Taxpayers List (ATL) rules.
The experts argue that the notification in its current form is difficult to understand for the general public, as it lacks a clear explanation of the intended changes and their impact. They believe that providing additional time for comments will allow stakeholders to better understand the implications of the proposed amendments.
SRO 1448(I)/2024 outlines the criteria for inclusion in the ATL, including filing income tax returns by the due date or extended due date. The FBR has clarified that the “latest tax year” refers to the tax year last completed before the return filing date. Business Recorder
The FBR has also introduced a surcharge for individuals who file their returns after the due date or extended due date. Companies and associations of persons formed after June 30th of the latest tax year will also be included in the ATL.
The experts’ request highlights the importance of transparency and public consultation in the development of tax regulations. By providing additional time for understanding and feedback, the FBR can ensure that the changes to the ATL rules are fair and equitable.
