Daily Times

Income tax returns filing has reached 2.93 million during the first eleven months (July-May) of the current fiscal year 2020-21 as compared to 2.63 million in the same period of the last financial year, showing an increase of 11.4 percent.

In a statement issued on Wednesday, the Federal Board of Revenue (FBR) said that due to the efforts to broaden the tax base, the income tax return filing increased significantly. As on May 31, 2021, income tax returns for tax year 2020 have reached 2.93 million compared to 2.63 million in tax year 2019. The tax deposited with returns was Rs52 billion compared to only Rs34 billion last year, showing an increase of 55 percent.

The FBR has also released information about Tier-I retailers who have been integrated with the POS system. According to the information, 10,767 sales points have been integrated with the Point of Sales Linked Invoicing System.