AGL 40.10 Decreased By ▼ -0.90 (-2.2%)
AIRLINK 127.80 Decreased By ▼ -0.34 (-0.27%)
BOP 6.60 Decreased By ▼ -0.10 (-1.49%)
CNERGY 4.60 Increased By ▲ 0.08 (1.77%)
DCL 8.58 Decreased By ▼ -0.03 (-0.35%)
DFML 41.40 Increased By ▲ 0.31 (0.75%)
DGKC 86.50 Decreased By ▼ -0.63 (-0.72%)
FCCL 32.13 Decreased By ▼ -1.26 (-3.77%)
FFBL 65.40 Decreased By ▼ -0.01 (-0.02%)
FFL 10.27 Decreased By ▼ -0.20 (-1.91%)
HUBC 110.60 Decreased By ▼ -0.03 (-0.03%)
HUMNL 14.70 Decreased By ▼ -0.60 (-3.92%)
KEL 5.15 Increased By ▲ 0.17 (3.41%)
KOSM 7.15 Decreased By ▼ -0.28 (-3.77%)
MLCF 41.69 Decreased By ▼ -1.30 (-3.02%)
NBP 60.20 Decreased By ▼ -0.22 (-0.36%)
OGDC 194.48 Decreased By ▼ -3.16 (-1.6%)
PAEL 27.95 Decreased By ▼ -1.06 (-3.65%)
PIBTL 7.98 Decreased By ▼ -0.28 (-3.39%)
PPL 150.52 Decreased By ▼ -3.64 (-2.36%)
PRL 27.08 Increased By ▲ 2.08 (8.32%)
PTC 16.08 Decreased By ▼ -0.01 (-0.06%)
SEARL 78.20 Decreased By ▼ -0.25 (-0.32%)
TELE 7.42 Increased By ▲ 0.05 (0.68%)
TOMCL 35.70 Decreased By ▼ -0.39 (-1.08%)
TPLP 7.90 Decreased By ▼ -0.17 (-2.11%)
TREET 15.87 Decreased By ▼ -0.09 (-0.56%)
TRG 52.70 Decreased By ▼ -0.66 (-1.24%)
UNITY 26.65 Decreased By ▼ -0.06 (-0.22%)
WTL 1.28 Increased By ▲ 0.01 (0.79%)
BR100 9,920 Decreased By -52.1 (-0.52%)
BR30 30,751 Decreased By -346.3 (-1.11%)
KSE100 93,225 Decreased By -423.8 (-0.45%)
KSE30 28,885 Decreased By -132.9 (-0.46%)

The Federal Board of Revenue (FBR) has decided to suspend income tax and sales tax registrations of non-compliant registered persons, whose names would be excluded from the "Active Taxpayer List" (ATL). According to an SRO.72(I)/2011 issued by the FBR here on Thursday, the Board has proposed amendments to the Income Tax Rules, 2002.
The draft has been published for the information of all those likely to be affected thereby and notice is hereby given that the draft will be taken into consideration after 15 days of its publication in the official Gazette. Any objection or suggestion, which may be received from any person, in respect of the said draft before the expiry of the aforesaid period, shall be considered by the FBR, the notification added.
According to the rules, the registration of the taxpayer removed from the ATL will be treated as suspended for the period of his removal from ATL and such taxpayer shall not be treated as a registered person during the suspension period unless regularised through an order by the respective commissioner (Enforcement).
The entire suspension period of registration will automatically be regularised immediately upon compliance by the defaulter and restoration in the ATL. The procedure said that the non-compliant taxpayers would be removed from the Active Taxpayers' List through the automated system. In case of persons required to file the declarations electronically, upon expiry of the due date, the computer system will send an e-intimation at the registered e-mail address of the taxpayer informing him about his default and advising him to make the compliance within 7 days, failing which his name shall be removed from the Active Taxpayers' List.
After completion of 7 days compliance time after issuance of the e-intimation sent through the computer system referred above, the computer system will remove automatically the name of the non-compliant taxpayer from the Active Taxpayers' List.
In case the persons not required to file the declarations electronically, upon expiry of the due date and feeding of all the returns in the computer system, the respective Commissioner (Enforcement) shall initiate the ATL process through the computer system whereby the computer system will print Intimation Letter to the non-compliant taxpayer informing him about his default and advising him to show the compliance within 10 days, failing which his name will be removed from the Active Taxpayers' List. Upon receipt of the return, the respective Commissioner (Enforcement) shall arrange to feed the return to the computer within a week.

Copyright Business Recorder, 2011

Comments

Comments are closed.