Mohsin Siddiqui (Chief Reporter)
The federal government plans to tighten regulations on tax non-filers in the upcoming budget, including potential disconnection of mobile phone SIMs, electricity, and gas services.
The federal government is set to implement stringent measures against tax non-filers in the upcoming budget. According to sources, notices will be issued to non-filers, and if there is no response, their mobile phone SIMs, electricity, and gas services will be disconnected. This aggressive approach aims to increase tax compliance and enhance revenue collection.
The government’s plan to boost tax revenues in the next financial year includes a robust enforcement strategy led by the Federal Board of Revenue (FBR). This strategy will involve several measures designed to bring more entities into the tax net and ensure stricter compliance with tax laws.
Notices will be sent to individuals and entities who have not filed their taxes. Failure to respond to these notices will result in the disconnection of their mobile phone SIMs, electricity, and gas services. This measure is intended to compel non-filers to comply with tax regulations.
The upcoming budget will see the withdrawal of various tax exemptions in sales tax, income tax, and customs duties. This step is expected to increase the tax base and generate additional revenue for the government.
The imposition of sales tax on petroleum products is another key measure. This move is projected to significantly boost tax revenues given the high consumption of petroleum products in the country.
With a surge in imports, the government plans to enhance tax recoveries by increasing taxes on imported goods. This measure will not only increase revenue but also encourage the consumption of locally produced goods.
There is a proposal to levy additional taxes on non-filers in the upcoming budget. This punitive measure is aimed at discouraging tax evasion and encouraging compliance.
The retail sector, which has traditionally remained outside the tax net, will be a focus area in the next financial year’s budget. The government plans to introduce steps to ensure that retail businesses comply with tax laws and contribute their fair share to the national exchequer.
The FBR will also target other sectors of the economy that have so far remained untaxed. By broadening the tax base, the government aims to ensure a more equitable distribution of the tax burden and increase overall tax revenues.
Another significant proposal in the upcoming budget is the imposition of additional taxes on the real estate sector. This sector has been identified as a major area where tax evasion is prevalent. The new measures aim to ensure that real estate transactions are properly taxed, thereby increasing transparency and revenue.
