Key features of Tax Laws Amendment Bill 2024
• The FBR will have authority to impose restrictions on unregistered individuals.
• Unregistered persons may face bans on operating bank accounts, transferring immovable property or running businesses.
• Banking transactions for unregistered persons will be restricted.
• High-risk individuals’ banking and tax data will be shared.
• Restrictions will apply to vehicle purchase, registration and booking, except for rickshaws, motorcycles, tractors and vehicles up to 800cc.
• The distinction between filer and non-filer will be replaced by categories of eligible and ineligible individuals.
• Eligible people include close family members, including parents, spouse, sons under 25, unmarried or widowed daughters, special children.
• Affected individuals can appeal decisions to Inland Revenue chief commissioner within 30 days.
Published in Dawn, December 19th, 2024