FBR Issues Deadline for the Filing of Taxpayer’s Profiles

The Federal Board of Revenue (FBR) has given a deadline of December 31, 2020, to certain categories of taxpayers to file their ‘taxpayer’s profiles’ by persons deriving income chargeable to tax under the head, “income from business”; income subject to final taxation; non-profit organizations, and any trust or welfare institution.

FBR officials told ProPakistani that certain categories of taxpayers must submit the ‘taxpayer’s profile’ by Dec 31. Taxpayer profile includes the relevant particulars of bank accounts, utility connections, business premises, including all manufacturing, storage, or retail outlets operated or leased by the taxpayer, types of businesses, and any other information as required by the FBR.

When asked whether the salaried class is required to file the taxpayer’s profile, officials informed that the salaried individuals are not required to file such profiles.

The condition for submission of the “Taxpayer’s profiles” covers certain categories of taxpayers, i.e., persons applying for registration, persons deriving income chargeable to tax under the head, “income from business”; income subject to final taxation; non-profit organizations, and any trust or welfare institution.


ALSO READ

FBR Notifies 0.8 Million Non-Filers to File Their Taxes


The persons, registered before September 30, 2020, having business income or incomes subject to final taxation, trusts, welfare institutions, and non-profit organizations are required to file taxpayers’ profile on or before December 31, 2020.

The FBR said that the persons who obtain their registration after September 30, 2020, are proposed to furnish such profile within 90 days of registration. In case of any change in particulars of information, such persons shall update their profile within 90 days of the change in particulars.

Moreover, if a person fails to furnish or update a taxpayer’s profile within the due date or time period as extended by the Board under section 214A, such person shall not be included in the active taxpayers’ list for the latest tax year ending before the aforesaid due date or extended date.

However, upon filing or updating the profile, such persons shall be allowed to be placed on the active taxpayers’ list upon payment of surcharge which is proposed to be Rs. 20,000 in the case of a company, Rs. 10,000 in the case of an association of persons and Rs. 1,000 in the case of an individual, FBR added


  • freelancer need to fill profile and what details we need to enter in business name? like AdSense earners and other.

  • FBR just make an honest tax payer regret his decision to get himself registered as a tax payer. And the persons who do not register are all tension free. No one ask them any question.

  • FBR kindly exempt the Drs who are working in Corona duties many of us have lost lives being working front line Drs to save people from this deadly pandemic must be regarded


  • close
    >