In a significant development, The Federal Board of Revenue has decided to scrap the category of non filers, mandating that all transactions should be conducted through banking channels. Chairman Rashid Mahmood Langrial revealed that 15 activities, including these five areas, will be prohibited for individuals who fail to file their tax returns. The five areas are Key transactions, including property purchases, car buying, mutual fund investments, and opening current accounts.
“We must do away with the concept of non-filers. There is an agreement to eliminate this idea,” FBR Chairman Rashid Mahmood Langrial told the representatives of all main industries during a consultative meeting on the organization’s planned transformation plan on Tuesday. The government is trying to increase the filer base, which will help decrease the rates. The state is introducing incentives for filers and disincentives for non-filers. When compliant taxpayers receive all the benefits, it will encourage people to enter the compliance base which will help the state decrease rates. Thus the state will be able to increase foreign investment in Pakistan.
The reforms will be implemented gradually over the coming months through an ordinance, with the law ministry involved in drafting the necessary rules. Non-filers will be barred from opening regular bank accounts, although basic accounts for low-income individuals will be exempt from this restriction.
It is also a fundamental duty of all citizens to pay taxes for the services they are enjoying. Thus, we all must fulfill our duties. To enjoy all the potential benefits, contact us to become a filer.
ٹیکس فائلر کیا ہوتا ہے؟ کتنے پیسے کماتے ہوں تو فائلر ہو سکتے ہیں؟
