ISLAMABAD (PEN) : In an effort to appease the International Monetary Fund (IMF) and other global lenders, the government announced on Wednesday a proactive approach to stabilize the economy by abolishing the non-filer category. This decision aims to halt further economic decline caused by tax evasion.
The Federal Board of Revenue (FBR) has introduced a range of new restrictions designed to boost tax compliance and broaden the tax base. This includes implementing 15 different measures targeting those who evade taxes. Some of the initial constraints will affect the sale of properties and vehicles, investments in mutual funds, the ability to open current accounts, and international travel—except for religious purposes.
FBR Chairman Rashid Mahmood Langrial emphasized a firm stance against tax evaders, stating that anyone who fails to file tax returns will face stringent consequences. He noted that the Prime Minister has approved this comprehensive plan from the FBR.
Langrial expressed frustration with non-filers, revealing that they contributed only Rs25 billion in taxes during the last fiscal year, far below the expected revenue. To combat this issue, the FBR plans to leverage machine learning and algorithms to identify non-filers more effectively.
Addressing the problem of smuggling, he assured that the FBR would enhance automation at entry points and increase manpower to better tackle this challenge. Through these measures, the government is determined to foster a fairer tax system and secure the financial stability the country desperately needs.
