Bank accounts of non-filers to be blocked under amended 2024 finance bill

Bank  accounts of non-filers to be blocked under amended 2024 finance bill

The government is considering a move to block the bank accounts of non-filers and has decided to implement a fixed sales tax on the import of mobile phones, replacing the current 18 percent sales tax, as part of the amended Finance Bill 2024.

According to ProPakistani, citing sources, the proposal to freeze bank accounts of non-filers was included in the original Finance Bill 2024 but was not passed.

Now, the government is looking at a proposal to block the accounts of non-filers who do not respond to notices, effectively limiting their ability to withdraw money until they appear on the Active Taxpayers List (ATL).

Read More: Budget 2024: Only these non-filers can travel abroad

Non-filers would still be able to deposit funds, but access to withdrawals would be restricted until they comply and are listed on the ATL.

If this proposal is incorporated into the amended Finance Bill 2024, the Federal Board of Revenue (FBR) will issue an income tax general order (ITGO) that lists the non-filers whose accounts will be blocked.

Furthermore, the amended bill will replace the 18 percent sales tax on imported mobile phones with a fixed sales tax amount, which will vary based on the brand of the imported phones.

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