The government had decided to include more and more people in the tax net due to difficult economic conditions, in this regard, strictness is being increased on non-filers. In the meeting of the National Assembly Standing Committee on Finance, the Chairman FBR gave a briefing regarding the new restrictions imposed on non-filers under the new tax law.
Chairman FBR Rashid Mahmood Langrial told the standing committee that under the new tax law, amendments have been made to the eligibility of tax return filers, non-filers will no longer be able to open a current or savings account in any bank. However, no restrictions are imposed on those buying 5 to 10 marla houses.
He said that tax return filers can now declare their wife, unmarried daughters, and boys under 25 years of age in their tax returns.
Committee member Hassan Bakshi told the committee that the FBR has stopped non-filers from buying property, but their bank accounts have not been closed. Which spread fear and panic among people. On which the Chairman FBR said that the Federal Board of Revenue has allowed non-filers to purchase property up to Rs 10 million.
Member Sales Tax Dr. Hamid Atiq Sarwar told the committee that the FBR has not stopped anyone from purchasing property or set any limit, the Federal Cabinet will give permission for it, after which it will be implemented.
He said that the Chairman of the Standing Committee on Finance Naveed Qamar has formed a sub-committee to review the limit and eligibility of investment in real estate, which will submit its recommendations within 10 days.
Speaking to the journalist and expert on economic affairs, Shahbaz Rana said that among the proposals that have come out from the government regarding this bill, unregistered business people will not be able to open bank accounts, and property transfers will not be possible.
He said that under the proposals, people who are not filers will not be able to buy houses and cars, and they will not be allowed to buy shares with a value exceeding a certain limit.
According to Shahbaz Rana, it has been proposed to sentence those who commit sales tax fraud to 10 years in prison and a fine of up to Rs 10 million.
He said that the Standing Committee is currently looking at the proposals regarding this bill, and some more proposals may also come out from the government.
