The government intends to replace the existing 18% tax on mobile phone imports with a fixed sales tax and may take action to restrict the bank accounts of non-filers.
A news article claims that these modifications are included in the updated Finance Bill 2024.
The idea to freeze non-filers’ bank accounts—which was originally included in Finance Bill 2024 but was not passed—is being given another look.
This plan will restrict non-filers’ bank accounts until they are included to the Active Taxpayers List (ATL) if they do not reply to reminders.
Until they become compliant taxpayers, non-filers would still be able to deposit money but not withdraw it.
The Federal Board of Revenue (FBR) will publish an income tax general order listing the non-filers whose bank accounts will be banned if this provision is included in the modified Finance Bill 2024.
The 18% sales tax on imported mobile phones is being replaced with a fixed sales tax amount that varies by brand in the modified Finance Bill 2024, which is another significant shift.
Furthermore, the 25% sales promotion and advertising spending prohibition included in the first Finance Bill 2024 is being revised by the government.
Three solutions are being considered:
permitting a fixed percentage of sales promotion or advertising expenses;
bringing the law back to its pre-Finance Bill 2024 position and granting the FBR rule-making powers; or cutting the disallowance rate from 25 to 20% with specified restrictions.
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