Non-filers to face THESE tough restriction in Pakistan from Oct 1
25 September, 2024 18:01
The Federal Board of Revenue (FBR) announced to eliminate the non-filer category and impose 15 new restrictions on tax evaders.
As per the reports, initially, five of the 15 restriction will be implemented while remaining will be enforced gradually to tight noose around the non-filers.
Initially, the non-filers will face the five restrictions such as:
- prohibition on property purchases
- vehicle purchases
- international travel
- opening current accounts
- investing in mutual funds
The FBR has announced the introduction of various restrictions targeting non-filers to enhance tax compliance and broaden the tax base.
FBR Chairman Rashid Mahmood Langrial revealed that 15 specific activities will be restricted for individuals who do not file tax returns, with an initial focus on five key areas.
These measures are part of the FBR’s reform plan, which has already been approved by Prime Minister Shehbaz Sharif.
Separately, the top tax authority has announced that deadline will not be extended, indicating that the new restrictions will be enforced from October 1, 2024.
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