Govt to Block Bank Accounts of Non-Filers:Finance Bill 2024
Govt to Block Bank Accounts of Non-Filers:Finance Bill 2024.
Government’s Measures Against Non-Filers: Proposal to Freeze Bank Accounts
Sources have disclosed to ProPakistani that the government considered a proposal to freeze bank accounts of non-filers as part of the original Finance Bill 2024, though it was not passed.
Read More: Non-Filers SIM Block Campaign Started by FBR
However, there remains the possibility that non-filers may face account blocks if they fail to respond to notices and do not appear on the Active Taxpayers List (ATL).
Non-filers would still be able to deposit money but unable to withdraw it until they become compliant.
If included in the amended Finance Bill 2024, the Federal Board of Revenue (FBR) will issue an income tax general order (ITGO) to list non-filers for account freezing.
Amendments in Mobile Phone Sales Tax
The amended Finance Bill 2024 is also set to replace the current 18 percent sales tax on mobile phone imports with a fixed amount of sales tax based on the brand of the imported mobile phones.
Key Points
- Bank Account Freezing:
- Non-filers’ bank accounts may be blocked until they become filers.
- This measure is intended to enforce tax compliance.
- Income Tax General Order:
- FBR to issue ITGO listing non-filers for account freezes.
- Mobile Phone Sales Tax:
- 18% sales tax on mobile phone imports to be replaced with a fixed tax amount based on brand.
Conclusion
These measures reflect the government’s efforts to ensure tax compliance and regulate imports through structured tax policies. The amendments in the Finance Bill 2024, if passed, could have significant implications for non-filers and mobile phone importers.
For more detailed information, visit ProPakistani.
Note: The information above might not be accepted 100%. Please verify from your own sources. We will not be responsible for any kind of loss due to our content.
For more news, please visit Munafa Marketing.
