Return submission may be mandatory for all TIN holders

The National Board of Revenue (NBR) is likely to make mandatory the submission of income tax returns for all taxpayers having taxpayers' identification numbers (TIN) with few exceptions from the upcoming fiscal year 2020-2021.

A provision might be included in the Income Tax Ordinance-1984. The finance minister may propose the changes in the Finance Bill-2020 today.

Only people who have obtained TINs for selling land and getting credit cards but don't have taxable income may only get waiver from submission of income tax returns, officials said.

From the next FY, all other TIN holders might have to submit tax returns even though they have no taxable income.

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