The government is set to further tighten restrictions on non filers. According to the Revenue Amendment Bill 2024, presented by Finance Minister Muhammad Aurangzeb in the National Assembly, non-filers will face several new restrictions:
- Prohibited from purchasing vehicles over 800cc.
- Not allowed to purchase property beyond a certain limit.
- Restricted from purchasing shares beyond a specific threshold.
- Not able to open bank accounts.
- Restricted from conducting banking transactions beyond a certain limit.
However, non-filers will still be allowed to purchase motorcycles, rickshaws, and tractors.
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For unregistered businesses:
- Bank accounts of unregistered business owners will be frozen.
- Unregistered individuals will not be allowed to transfer property.
- The government will have the authority to seal the properties and businesses of unregistered individuals.
The restrictions will come into effect after a notification from the federal government. Bank accounts will be frozen for failure to register for sales tax, and property transfers will also be prohibited for those who fail to register for sales tax. Accounts will be restored two days after sales tax registration, and 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.