ISLAMABAD: The federal government has tabled the Tax Law Amendment Bill 2024-25 in the National Assembly, proposing restrictions on non-filers including barring them from purchasing cars above 800cc and opening bank accounts. 

Finance Minister Muhammad Aurangzeb moved the amendment bill, which also proposed that non-filers will be banned from investing in securities or mutual funds beyond a certain threshold and acquiring property beyond a specified limit.

As per the bill, non-filers will not be able to make transactions through a bank beyond a certain limit. However, they will be allowed to buy motorcycles, rickshaws, and tractors. Non-registered individuals will not be able to transfer property, the bill reads.

Moreover, non-registered business owners will not be able to open bank accounts, and already accounts will be frozen. The Federal Board of Revenue (FBR) will release a list of individuals, and their accounts will be frozen.

Under the proposed measures, commissioners will be granted the authority to seal businesses and seize movable property of individuals who fail to file taxes. The newly proposed bill allows individuals to appeal to the Chief Commissioner to unfreeze accounts. In a move to encourage compliance, restrictions on businesses will be lifted within two days of completing registration.

For the purposes of this bill, parents and children of filers, including children up to 25 years old and spouses, will be considered as filers.

The government’s decision to enforce strict measures on tax evaders comes as part of its agreement with the IMF to improve tax collection and enhance the country’s financial stability. 

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