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Inactive taxpayers lose access to forex bank accounts

Inactive taxpayers lose access to forex bank accounts
Business
March 11, 2021
KARACHI: Banks have refused to facilitate transactions in foreign exchange accounts of taxpayers whose names don’t appear in active taxpayer list (ATL) because of late filing of returns, people familiar with the matter said on Wednesday.
The accountholders complained that their banks stopped their transactions on the context that their names are not included in ATL. They have been facing the hassle since the issuance of the new ATL for tax year 2020 on March 1.
“Half of return filers have become inactive after the new ATL,” a bank manager said, requesting anonymity. They need to pay surcharge to be included in the ATL. ....

Badaruddin Qureshi , Economic Reform Act , Income Tax Ordinance , Finance Act , பொருளாதார சீர்திருத்தம் நாடகம் , வருமானம் வரி ஆர்டிநந்ஸ் , நிதி நாடகம் , வரி செலுத்துவோர் , அந்நிய செலாவணி ,

Banks in Pakistan stop forex account transactions for inactive taxpayers

By
Thursday Mar 11, 2021
Former FBR official says concept of filer and non-filer introduced in 2014 to discourage non-filers. Photo: Geo.tv/ file
Account holders say banks have stopped their transactions in forex accounts as their name does not appear on Active Taxpayer List.
Non-filers have to file taxes, pay a surcharge to FBR to avoid penalty.
Even though banks are following the law, tax experts say confusion of what a tax filer is raises questions regarding the action.
KARACHI: Banks in Pakistan have refused to entertain foreign exchange transactions in accounts held by individuals who are not included in the national Active Taxpayers List (ATL) due to late filing of returns and/or nonpayment of late filing surcharge, sources privy to the matter have told ....

Badaruddin Qureshi , Active Taxpayer , Economic Reform Act , Income Tax Ordinance , Finance Act , செயலில் வரி செலுத்துவோர் , பொருளாதார சீர்திருத்தம் நாடகம் , வருமானம் வரி ஆர்டிநந்ஸ் , நிதி நாடகம் ,

Inactive taxpayers lose access to forex bank accounts

Inactive taxpayers lose access to forex bank accounts
thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.

Badaruddin Qureshi , Economic Reform Act , Income Tax Ordinance , Finance Act , பொருளாதார சீர்திருத்தம் நாடகம் , வருமானம் வரி ஆர்டிநந்ஸ் , நிதி நாடகம் ,

Inactive taxpayers lose access to forex bank accounts

Inactive taxpayers lose access to forex bank accounts
thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.

Badaruddin Qureshi , Economic Reform Act , Income Tax Ordinance , Finance Act , பொருளாதார சீர்திருத்தம் நாடகம் , வருமானம் வரி ஆர்டிநந்ஸ் , நிதி நாடகம் ,