Government imposes new restrictions on non-filers
Pakistan’s Finance Minister, Muhammad Aurangzeb, recently announced new restrictions on property and vehicle purchases for non-filers as part of broader economic reforms. Speaking at a press conference in Washington, he highlighted that these difficult decisions are necessary to drive long-term improvement, according to Express News. Aurangzeb explained that Pakistan aims
FBR announces nationwide crackdown against non-filers starting November
Federal Board of Revenue Chairman, Rashid Langrial, has announced that strict actions against non-filers will commence after November 1. Speaking to the media in Islamabad, Langrial stated that the number of income tax returns filed has surpassed 4 million, doubling from last year. The chairman also highlighted that the deadline
FBR to impose THESE 15 restrictions on non-filers
In a major move to tighten tax laws, the Federal Board of Revenue (FBR) has introduced more than 15 restrictions aimed at non-filers, making it increasingly difficult for them to operate without complying with tax regulations. Here’s a breakdown of the new measures: Non-Religious Travel Ban: Non-filers will be prohibited
New federal excise duty on property transactions announced by FBR
ISLAMABAD: The Federal Board of Revenue (FBR) has introduced a new Federal Excise Duty (FED) on property transactions, effective immediately. Under the updated Federal Excise Act 2005, a 3 percent FED will be applied to the allotment or transfer of commercial properties and the first allotment or first transfer of
Check out new property tax rates in Pakistan
The new tax measures include record-high taxes on both plots and constructed lands to enhance revenue collection and establish a more equitable tax system. Key changes involve increased Capital Gains Tax (CGT) and Advance Tax on property sales, impacting filers, late filers, and non-filers differently. Capital Gains Tax Rates for
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
Budget 2024: Only these non-filers can travel abroad
The Finance Bill 2024 has introduced a restriction on foreign travel for Pakistani citizens who are non-filers of income tax returns. However, this restriction will not apply to individuals holding a National Identity Card for Overseas Pakistanis (NICOP), minors, students, and other specific categories as notified by the Federal Board
Relief ends for new filers when purchasing homes, plots, and cars
WEB DESK: The relief provided to those who became filers when purchasing a house, plot, or vehicle has been discontinued. Now, both filers and non-filers will have to pay taxes when buying a house, plot, or vehicle. According to the Chairman of the FBR, the proposal to ban non-filers from
Govt imposes 18% GST on packaged pulses, rice, sugar
WEB DESK: The government has imposed an 18% GST on all basic commodities, including packaged pulses, rice, flour, and sugar, in the new budget. The Senate Standing Committee on Finance has also approved a proposal to ban non-filers from traveling abroad. In addition, non-filers mobile SIMs, as well as their
Govt approves ban on foreign travel for non-filers
WEB DESK: According to details, a meeting of the Senate Standing Committee on Finance, chaired by Senator Saleem Mandviwalla, was held where the proposal to ban foreign travel for non-filers was approved. Following this approval, non-filers will no longer be able to travel abroad. According to the Chairman of the
