{"id":100228,"date":"2024-10-28T11:06:49","date_gmt":"2024-10-28T06:06:49","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=100228"},"modified":"2024-10-28T11:06:53","modified_gmt":"2024-10-28T06:06:53","slug":"non-filers-face-property-purchase-restrictions","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/non-filers-face-property-purchase-restrictions.html","title":{"rendered":"Govt targets non-filers with property, vehicle purchase restrictions"},"content":{"rendered":"\n<p>Washington: In a move aimed at boosting Pakistan&#8217;s tax revenue, Finance Minister Muhammad Aurangzeb has announced new restrictions barring non-filers from purchasing properties and vehicles, signaling a tougher stance on tax compliance. At a press conference in Washington, Aurangzeb stated that the government plans to eliminate the non-filer category. This reform, he noted, is part of a broader strategy to stabilize Pakistan&#8217;s economy and improve its tax-to-GDP ratio, which currently stands at 9%. The government aims to raise this figure to 13% in the near term, a critical step for long-term economic stability.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/fbr-to-eliminate-late-filers-non-filers-category.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR draft in making to eliminate categories of \u2018late filers, \u2018non-filers\u2019<\/a><\/p>\n\n\n\n<p>Aurangzeb underscored the necessity of making difficult economic choices, pointing out that recent efforts yielded positive results. Key economic indicators, including inflation and the policy rate, have shown improvement, contributing to greater macroeconomic stability. Notably, he shared that Pakistan&#8217;s economic direction has been recognized positively by major rating agencies, highlighting ongoing progress in securing fiscal health.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/legal-actions-against-non-filers-to-commence.html\" target=\"_blank\" rel=\"noreferrer noopener\">Legal actions against non-filers to commence this November<\/a><\/p>\n\n\n\n<p>During discussions in the U.S., Aurangzeb met with representatives from the International Monetary Fund (IMF) and World Bank, conveying confidence that Pakistan&#8217;s current IMF program could be its last. Additionally, he disclosed that the World Bank has expressed interest in offering grants to Pakistan rather than traditional loans, underscoring the country&#8217;s efforts to reduce its reliance on external debt.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/fbr-receives-nadra-data-on-195000-wealthy-non-taxpayers.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR receives NADRA data on 195,000 wealthy non-taxpayers<\/a><\/p>\n\n\n\n<p>Meanwhile, Pakistan has requested an additional 10 billion yuan ($1.4 billion) from China, intending to increase its currency swap facility from the existing 30 billion yuan ($4.3 billion) to 40 billion yuan, or approximately $5.7 billion in total. This request follows China&#8217;s recent extension of Pakistan&#8217;s existing facility for another three years. However, the additional facility will depend on Beijing\u2019s approval, as previous requests for increased debt limits were declined. This funding move underscores Pakistan&#8217;s ongoing need for external support amid its economic reforms.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/pakistan-bureau-statistics-records-3-month-low-inflation-aug.html\" target=\"_blank\" rel=\"noreferrer noopener\">Pakistan Bureau of Statistics records 3-month-low inflation in Aug<\/a><\/p>\n\n\n\n<p>These changes come as Pakistan seeks to broaden its economic base and attract international investment, with Aurangzeb noting growing interest from the American business community.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Washington: In a move aimed at boosting Pakistan&#8217;s tax revenue, Finance Minister Muhammad Aurangzeb has announced new restrictions barring non-filers from purchasing properties and vehicles, signaling a tougher stance on tax compliance. At a press conference in Washington, Aurangzeb stated that the government plans to eliminate the non-filer category. This reform, he noted, is part of a broader strategy to stabilize Pakistan&#8217;s economy and improve its tax-to-GDP ratio, which currently stands at 9%. The government aims to raise this figure to 13% in the near term, a critical step for long-term economic stability. Read: FBR draft in making to eliminate categories of \u2018late filers, \u2018non-filers\u2019 Aurangzeb underscored the necessity of making difficult economic choices, pointing out that recent efforts yielded positive results. Key economic indicators, including inflation and the policy rate, have shown improvement, contributing to greater macroeconomic stability. Notably, he shared that Pakistan&#8217;s economic direction has been recognized positively by major rating agencies, highlighting ongoing progress in securing fiscal health. Read: Legal actions against non-filers to commence this November During discussions in the U.S., Aurangzeb met with representatives from the International Monetary Fund (IMF) and World Bank, conveying confidence that Pakistan&#8217;s current IMF program could be its last. Additionally,&hellip;<\/p>\n","protected":false},"author":18,"featured_media":64102,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[59959,59958,59956,59957,59955],"persona":[],"class_list":{"0":"post-100228","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-non-filers-and-car-purchase","9":"tag-non-filers-and-property-buying","10":"tag-non-filers-category-in-pakistan","11":"tag-pakistan-non-filers-restrictions","12":"tag-restrictions-on-non-filers","13":"cat-15015-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Non-filers face property purchase restrictions - Zameen News<\/title>\n<meta name=\"description\" content=\"Aurangzeb underscored the necessity of making difficult economic choices, pointing out that recent efforts yielded positive results...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/non-filers-face-property-purchase-restrictions.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Non-filers face property purchase restrictions - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Aurangzeb underscored the necessity of making difficult economic choices, pointing out that recent efforts yielded positive results...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/non-filers-face-property-purchase-restrictions.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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