ISLAMABAD    -   The Federal Board of Revenue (FBR) is hopeful to increase the number of tax filers to around 5 million during current tax year as large number of people are filing tax returns.

FBR Chairman Shabbar Zaidi tweeted on Friday that the tax returns per day had risen by 127 percent compared to last year.

The number of tax returns filed this year has also increased. Tax returns filed so far (till October 25) stand at 918,027. Tax returns filed in the same period last year or by October 25, 2018 were clocked at 585, 209.

Average tax returns filed per day amounted to 18,735 during the current fiscal year. During the same period last year tax returns filed amounted to 8242. Tax returns per day showed a noticeable rise of 127 percent, according to the chairman FBR.

Another official informed The Nation that the FBR had set a target of 5 million returns in the current fiscal year.  He further said that FBR had started a campaign to broaden the tax base of the country from last few months, which is giving results in terms of filing large number of tax returns.

Apart from other, the FBR is also targeting the big retailers located in shopping malls, retail chains and stores having 1,000 square feet. The FBR will notify new rules for registration and taxation of big retailers to restore confidence of the small retailers and shopkeepers.

The new documentation policy would focus from registration of big retailers to medium-sized retailers in a systematic manner.

It is worth mentioning here that the total return filers in the last year reached 2.561 million as against 1.514m over the previous year, reflecting an increase of 69.1 per cent.

According to the reports, the FBR had recently issued as many as 134,848 notices to high net-worth individuals across the country in order to persuade them to e-file income tax return for 2019.

The notices were issued to unregistered individuals by the respective dedicated zones of the Broadening of Tax Base (BTB) created at Regional Tax Office (RTO) Islamabad, RTO Faisalabad, RTO Rawalpindi, RTO-II and RTO-III Karachi and RTO-II Lahore.