FBR to impose ban on non-filers for purchase of cars, property, bank transactions

The government is planning to enforce strict measures on non-filers on various things, such as prohibited from purchasing vehicles over 800cc, opening bank accounts, and buying or transferring property.

Notably, properties and businesses may also be sealed if tax registration is not completed.

Finance Minister Muhammad Aurangzeb has presented the Revenue Amendment Bill 2024 in the National Assembly, outlining the key points as follows:

1. Non-filers will be prohibited from purchasing vehicles over 800cc.
2. Non-filers will not be allowed to purchase property beyond a certain limit.
3. Non-filers will also be restricted from buying shares beyond a specific threshold.
4. Non-filers will not be able to open bank accounts.
5. Non-filers will be restricted from conducting banking transactions beyond a certain limit.
6. However, non-filers will still be allowed to purchase motorcycles, rickshaws, and tractors.

For unregistered businesses:

1. Bank accounts of unregistered business owners will be frozen.
2. Unregistered individuals will not be allowed to transfer property.
3. The government will have the authority to seal the properties and businesses of unregistered individuals.
4. The FBR (Federal Board of Revenue) will issue a list of individuals whose accounts will be frozen.

It is important to note that these restrictions will be effective after a notification from the federal government.

1. Bank accounts will be frozen for failure to register for sales tax.
2. Property transfers will also be prohibited for those who fail to register for sales tax.
3. Accounts will be restored two days after sales tax registration.
4. Appeals for account restoration can be made to the Chief Commissioner.

Additionally, the parents, spouse, and children (up to 25 years of age) of a filer will also be considered filers. The Deputy Speaker has referred the bill to the National Assembly Finance Committee for further consideration.