The government has introduced a new proposal to tighten restrictions on non-filers, making it difficult for them to carry out basic financial transactions, such as opening bank accounts, buying property, or purchasing vehicles.
The Tax Law Amendment Bill 2024-25, presented in the National Assembly (NA), outlines several key measures aimed at enforcing compliance with tax regulations.
Under the proposed amendment, non-filers will be prohibited from purchasing vehicles with an engine capacity of more than 800 cc and from buying property beyond a certain limit.
They will also face restrictions on purchasing shares above a specified threshold. Non-filers will not be able to open bank accounts or carry out transactions beyond a set limit.
Additionally, the bill states that the bank accounts of unregistered businesses will be frozen, and these businesses will be barred from transferring property.
The government will have the authority to seal the business operations of unregistered individuals. The Federal Board of Revenue (FBR) will also release a list of non-compliant individuals, whose accounts will be frozen.
For individuals and businesses who fail to register for sales tax, their bank accounts will be frozen, and property transfers will be restricted. If a sales tax registration is not completed, it will be frozen within two days, with the option to appeal to the Chief Commissioner.
In an effort to ensure accountability, the proposed law also includes provisions that consider the immediate family members of a filer – including parents, children up to 25 years of age, and spouses – as filers.
The ban will be enforced after the notification by the federal government.
Source: ARY News
