ISLAMABAD (Dunya News) - In a bid to appease the International Monetary Fund (IMF) and other global lenders for stabilising the economy, the government on Wednesday decided to take preemptive steps to stop further bleeding of the economy by the non-filers as it agreed to abolish non-filers category.
The Federal Board of Revenue (FBR) announced that it would introduce various restrictions in order to increase tax compliance and expand the tax base by abolishing non-filer category.
The FBR has formally decided to impose 15 different constraints on those evading taxes.
The initial constraints include sale of property and vehicles, investment in mutual funds, opening current account and international travel (excluding religious travel).
FBR Chairman Rashid Mahmood Langrial has revealed that whoever avoided filing tax returns would be dealt with an iron fist, adding that the PM had approved the plan carved out by the FBR.
Lashing out at the non-filers, he said the FBR would identify them through machine learning and algorithms. He informed that the non-filers only gave Rs25 billion tax during the last fiscal year, which he said, was below than the targeted revenue.
Speaking about smuggling, he said the FBR would enhance automation at entry points while also increasing manpower to curb smuggling.
An official told Dunya News that these steps would be implemented through an ordinance, claiming that the FBR was doing all the necessary work and taking law ministry into confidence in this regard.