ISLAMABAD: The government on Tuesday has decided penalty waive off of Rs. 20,000 for all taxpayers who failed to file their tax returns within the stated deadline.
Minister of State for Revenue Hammad Azhar took to famous microblogging site Twitter and said “The government has decided to waive the penalty for late filing along with audit for Salaried Group of late filer cases. These cases were selected for audit and penalty was prescribed by the previous government. This govt is committed on facilitating people in filing returns.”
The government has decided to waive the penalty for late filing along with audit for Salaried Group of late filer cases. These cases were selected for audit and penalty was prescribed by the previous government. This govt is committed on facilitating people in filing returns.
— Hammad Azhar (@Hammad_Azhar) November 27, 2018
The Federal Board of Revenue (FBR) on November 14 issued audit notices to over a million late filers who had submitted returns for tax years 2015, 2016 and 2017. They were asked to pay a Rs20,000 penalty or higher taxes for automatic closure of audit proceedings.
The audit and penalty were imposed because the filers had submitted their returns after the expiry of the deadlines for preceding years.
The last date for filing the returns for 2016-17 was earlier announced to be September 30, 2018 as The Pakistan Tax Bar Association (PTBA), in a letter to the FBR chairperson, had sought an extension in the deadline to file returns for 2018.
All those whose annual salary from July 1, 2017 to June 30, 2018 above Rs400,000 are required to file their income tax returns along with wealth statement for the financial year 2017-18.