Advertisement
Categories: BusinessNews

Budget 2024-25: Govt Proposes Travel Restrictions and Penalties for Non-Filers

Advertisement

Pakistan has proposed to restrict the foreign travel of non-filers, with exceptions for those traveling for Hajj, Umrah, or educational purposes, as the country presented its Rs18.9 trillion budget on Wednesday.

According to the Finance Bill, the government has proposed a penalty of Rs10 million for travel agencies that fail to implement the new regulations.

Finance Minister Muhammad Aurangzeb presented the budget in a National Assembly session amid anti-Nawaz Sharif slogans from the opposition. In his speech, he emphasized the need to digitize the Federal Board of Revenue (FBR) and implement reforms to improve tax collection.

The government has set an ambitious Rs12,970 billion tax revenue target for the FBR, which is 38 percent more than the current fiscal year.

Budget 2024-25: Govt Announces Substantial Hike in Petroleum Levy

The Finance Bill further stated that a repeat offense of non-compliance would result in a fine of Rs20 million.

It is worth noting that the government had previously made preparations to take action against three million non-filers, including disconnecting their electricity and gas connections. Media reports suggest that the government will enforce these regulations, tightening the noose around tax evaders by leveraging tax laws.

Advertisement
News Desk

Recent Posts

Pakistan to Witness Nearly 7 Million Animal Sacrifices on Eid-ul-Adha

Pakistan is expected to witness the sacrifice of more than 6.97 million animals during Eid-ul-Adha…

4 hours ago

US Tech Fund commits $10 million to 2 Pakistani IT entrepreneurs

Pakistan's two IT entrepreneurs-- Mehwish Salman Ali and Malik Mudassir—will receive funding of $10 million…

8 hours ago

Spotify’s Fresh Finds Celebrates a Decade of Discovering Breakout Talent

Spotify has announced a major milestone for 2025 - 10 years of Fresh Finds, the…

9 hours ago

Sindh Govt Bans Qingqi Rickshaws in Karachi, Imposes Heavy Fines Under New Traffic Reforms

Sindh’s Minister for Law and Home Affairs, Ziaul Hassan Lanjar, has approved sweeping changes to…

9 hours ago

AKU LEADS with micro-credentials: A flexible programme for academic advancement, upskilling and reskilling

Today, the world is changing rapidly more so than ever before with disruptive technological development…

9 hours ago

Aeon & Trisl Secures Emaar’s Top Broker Title for Q1 2025 – 7 Quarters in a Row

Aeon & Trisl Real Estate Group has once again claimed the coveted title of Emaar’s…

9 hours ago