Islamabad: The federal government has decided to impose further strict measures against tax evaders and non-filers in the upcoming fiscal year. According to the finance bill, the government will restrict tax evaders’ foreign travel. They will recommend six months in prison for shopkeepers who fail to register and continue selling goods.
Chairman FBR Majid Zubair Toana
Chairman FBR Majid Zubair Toana, speaking at a press conference after the budget, stated that increasing taxation is essential for the country’s recovery. He emphasized that there are no concessions this time because the government has eliminated all exemptions as per policy. After closing tax loopholes for evaders, they have proposed disconnecting electricity and gas meters, making it difficult for people to perform Hajj and Umrah and educate their children abroad.
If traders do not participate in the trader-friendly scheme, they may face six months imprisonment in addition to selling shops. Majid Zubair Toana mentioned a proposal to restrict foreign travel for tax evaders. Despite this, they may grant exceptions for Hajj, Umrah, and educational purposes abroad.
There is also a proposal to impose a fine of Rs. One hundred million on travel agencies issuing tickets to tax evaders for the first offense, and Rs. 200 million for subsequent defaults. They mentioned that they would collect Rs. 7.5 billion from the affluent class. Rs. 15 billion from the non-affluent class through taxes. Tax relief of Rs. 45 billion has been eliminated. FBR aims to increase tax revenues by more than Rs in the upcoming fiscal year. 3.8 trillion through policies and enforcement, collecting Rs. 1.8 trillion in taxes.
They mentioned that customs duty relief of Rs. The government has abolished 15 billion and imposed a 5% excise duty on immovable property, plots, and commercial properties. It is bringing exports into the normal tax regime and increasing the holding tax rate for retailers. The budget has imposed additional taxes totaling Rs. 1.761 trillion.
They added that they are seeking details from the power division to determine whose name is registered on the electricity meter at each house. One person registers the house, while another registers the electricity meter.
