Revenue: Corporate sector files 9.5% less tax returns

Companies, association of persons submit 1.67m documents.

KARACHI: The number of income tax returns and statements filed by companies and association of persons (AOPs) has decreased 9.5 per cent in six months (July-December) of the current fiscal year.

According to Federal Board of Revenue (FBR) data, in July-December 2010-11 companies and AOPs submitted around 1.67 million income tax returns and statements compared with 1.84 million returns and statements filed in the same period the previous year.

According to the break-up, companies and AOPs filed around 707,700 income tax returns this year compared with 688,400 returns last year, showing an increase of only 2.8 per cent. In the case of tax statements, companies and AOPs filed around 965,200 documents against 1.16 million last year, a decrease of 16.7 per cent.

The data further shows that in the six months of this year individual taxpayers of the salaried class submitted 2.3 per cent less income tax returns totaling around 107,000 against 109,500 last year.

Individual taxpayers of the non-salaried class submitted 566,000 income tax returns, 3.3 per cent more than 548,100 returns filed in the previous year.

Published in The Express Tribune, December 30^th, 2010.