The Pakistani government is contemplating stringent measures to boost tax compliance through the Amended Finance Bill 2024. Sources reveal that a key proposal, initially excluded from the original bill, may now be reintroduced: the authority to block bank accounts of individuals who fail to file tax returns.
Under the proposed legislation, the Federal Board of Revenue (FBR) could gain the power to restrict withdrawals from the accounts of non-filers. This limitation would remain in effect until the account holder appears on the Active Taxpayers List (ATL). While deposits would still be permitted, access to funds would be curtailed for those not meeting their tax obligations.
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The amended bill also seeks to revamp the taxation structure for imported mobile phones. The current 18% sales tax might be replaced with a fixed amount based on the phone’s brand, simplifying the import tax process.
These potential changes signal the government’s intensified efforts to expand the tax base and increase revenue. The FBR would likely issue notices to suspected non-filers before implementing any account restrictions.
The Amended Finance Bill 2024 is still under review, and final provisions are subject to approval. Tax experts and citizens alike await official confirmation of these proposed measures, which could significantly impact Pakistan’s financial landscape.
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