Скачать или смотреть The Income Tax Non-Filers Amendment Bill Explained

The government has introduced the **Tax Law Amendment Bill 2024-25**, aiming to widen the tax net and eliminate the non-filer category. This groundbreaking legislation includes restrictions on non-filers, targeting tax evasion and boosting revenue collection. Key measures include:

**Vehicle Purchases**: Non-filers barred from buying vehicles over 800cc.
**Property Acquisition**: Non-filers restricted from purchasing high-value properties.
**Banking & Business Operations**: Non-filers prohibited from opening new accounts, with limits on transactions and stock purchases.
**Penalties for Non-Compliance**: Unregistered business owners face frozen accounts, blocked transactions, and potential property seizure.

The bill seeks to improve Pakistan's tax-to-GDP ratio, targeting a jump from 9% to 13%. Finance Minister Muhammad Aurangzeb emphasizes that these reforms are critical for economic stability, while FBR Chairman Rashid Mahmood Langrial highlights the massive gaps in sales and income tax collection.

Will these measures transform Pakistan's tax landscape or create new challenges? Share your thoughts in the comments!
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