- Non-filers will not be allowed to purchase property beyond a certain limit.
- They will not be able to transact beyond a certain limit.
- Finance Minister Muhammad Aurangzeb presents bill to NA.
ISLAMABAD: The federal government on Wednesday introduced a bill to amend tax laws, seeking to bar non-filers from purchasing cars above 800 cc and opening a bank account.
The proposed amendment titled The Tax Laws (Amendment) Bill, 2024, introduced by Finance Minister Muhammad Aurangzeb, proposes that non-filers should not be allowed to purchase property beyond a certain limit.
The amendment also proposes that non-filers will be prohibited from purchasing shares beyond a certain limit and will not be allowed to open a bank account.
According to the bill, non-filers will not be able to transact through a bank beyond a certain limit. They will, however, be allowed to purchase motorcycles, rickshaws and tractors.
Additionally, the bank accounts of unregistered entrepreneurs will be frozen and they will be prohibited from transferring assets. The amendment also proposed that the government be authorized to seal the properties and businesses of non-filers.
The legislation also proposes that the accounts of those on the Federal Board of Revenue (FBR) list be frozen.
Under the proposed amendments, the FBR will also be able to freeze bank accounts and prohibit transfer of ownership in case of failure to register with the principal collecting agency for filing sales tax returns.
However, their accounts will be unfrozen two days after registration.
The bill says the restrictions will come into effect after approval from the federal government.
Besides, the House also witnessed the presentation of a report by the Standing Committee on the National Commission on the Status of Women (Amendment) Bill, 2024, which seeks to amend the Commission Act, 2012 National Status of Women.
The report was presented in the House by Chaudhary Mahmood Bashir Virk.