Advertisement
Categories: BusinessNewsPakistan

Government to Abolish Non-Filer Category and Impose Strict Restrictions

Advertisement

The government of Pakistan has announced plans to eliminate the non-filer category from tax laws, introducing a range of restrictions for individuals who do not submit tax returns.

Confirming the news in a conversation with a private channel, Federal Board of Revenue (FBR) spokesperson Bakhtiar Muhammad stated that non-filers will no longer be allowed to purchase vehicles by paying additional taxes.

Key restrictions for non-filers include:

  • Ban on Non-Religious Travel: Non-filers will be prohibited from traveling for non-religious purposes.
  • Cash Withdrawal Limit: Annual cash withdrawals will be capped at Rs30 million.
  • Asset Purchase Ban: Non-filers will be barred from purchasing properties or vehicles.
  • Investment Restrictions: They will be prohibited from investing in the stock market or mutual funds.
  • Current Account Limitations: Opening current bank accounts will be restricted.
  • Higher Withholding Taxes: Non-filers will face increased withholding tax rates.
  • Transaction and Cheque Use Restrictions: Non-filers will be subjected to limitations on transactions, including bans on certain cheque usage.
  • Business and Investment Constraints: Business activities will be restricted, and tax exemptions will no longer be available.

Enhanced scrutiny and audits will also be implemented for non-filers. FBR clarified that individuals earning Rs50,000 or more per month and failing to submit tax returns fall into this category.

Advertisement
News Desk

Recent Posts

PDA and Arid Agriculture University Sign MoU to Strengthen Industry-Academia Collaboration in Dairy Sector

Pakistan Dairy Association (PDA) and Pir Mehr Ali Shah Arid Agriculture University, Rawalpindi have signed…

19 hours ago

ZTBL and PDA Forge Strategic Alliance to Drive Pakistan’s Dairy Sector Modernisation

Zarai Taraqiati Bank Limited (ZTBL) and the Pakistan Dairy Association (PDA) have signed a memorandum…

2 days ago

Trump Cites Five Jets Downed in India-Pakistan Clash, Credits U.S. with Preventing Nuclear Crisis

U.S. President Donald Trump said up to five fighter jets were brought down during the…

7 days ago

Spotify Spotlights Pakistan’s Breakout Star Afusic as the RADAR Artist for Q3

Spotify's RADAR Pakistan returns this quarter, spotlighting Afusic as its latest featured artist. Afusic is…

7 days ago

OICCI Statement on the Recent Loss of Lives Due to Flooding and Extreme Weather Events in Pakistan

The Overseas Investors Chamber of Commerce and Industry (OICCI) is deeply saddened by the tragic…

7 days ago

Stopover in Dubai: what to do, where to eat and where to stay

If you’re planning a Dubai getaway that’s got a little bit of everything, world-class shopping,…

7 days ago