POLITICS

FBR to Launch Major Crackdown on Non-Filers from October 1

Published

on

The Federal Board of Revenue (FBR) has unveiled plans for a major crackdown on non-filers, set to begin on October 1. As part of its strategy to meet an ambitious annual tax collection target of Rs12,970 billion, the FBR will issue final tax notices to millions of non-filers, urging them to file their returns before the September 30 deadline.

FBR sources reveal that non-compliance could lead to severe penalties, including restrictions on international travel and the disconnection of essential services like mobile phones, electricity, and gas. Taxpayers who fail to submit their income tax returns for the financial year 2024 will face higher withholding tax rates.

The crackdown will focus on ten key sectors, such as retail, wholesale, transport, real estate, construction, health, and education. The FBR has compiled comprehensive records of citizens’ transactions, enabling precise identification of non-filers. Discussions are also underway to impose a ban on the sale and purchase of properties and vehicles by non-filers.

In addition to immediate actions, the FBR plans to conduct audits, with heavy fines for those caught evading taxes or providing false information. This initiative is part of the government’s larger effort to enhance tax compliance and stabilize the country’s economic future.

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending

Copyright © 2024 The Frontier Voice. Powered and Designed by Tansal Technologies.