{"id":99486,"date":"2024-09-25T10:45:47","date_gmt":"2024-09-25T05:45:47","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=99486"},"modified":"2024-09-25T11:00:05","modified_gmt":"2024-09-25T06:00:05","slug":"fbr-tightens-circle-new-tax-measures-issued","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-tightens-circle-new-tax-measures-issued.html","title":{"rendered":"Non-filers denied property purchases under FBR\u2019s new tax strategy"},"content":{"rendered":"\n<p>Islamabad: The Federal Board of Revenue (FBR) has recently announced plans to eliminate the category of non-filers and implement new measures aimed at improving tax compliance, according to a news source on September 25.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/file-income-tax-returns-by-september-30.html\" target=\"_blank\" rel=\"noreferrer noopener\">Deadline for filing tax-returns: FBR makes important announcement<\/a><\/p>\n\n\n\n<p>In line with the shared details, the FBR is actively working on implementing these changes through an ordinance, collaborating with the law ministry to establish the necessary regulations. This initiative will initially introduce five restrictions on non-filers, including limitations on property purchases, vehicle acquisitions, international travel (excluding religious trips), the opening of current bank accounts, and investments in mutual funds.<\/p>\n\n\n\n<p>The government will utilise advanced machine learning and algorithms to identify non-filers more effectively. This approach will help ensure that individuals whose income levels do not align with their transaction volumes are monitored appropriately, as the Prime Minister approves.<\/p>\n\n\n\n<p>FBR Chairman Rashid Mehmood highlighted that traditional bank checks have become less effective, with only PKR 25 billion collected from non-filers last year in the form of fees. He emphasised that while industrialists support the automation of tax processes, the lack of taxation on the agriculture sector could hinder the overall tax-to-GDP ratio.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/fbr-issues-new-regulations-taxpayers.html\" target=\"_blank\" rel=\"noreferrer noopener\">New FBR regulations put high-income taxpayers in spotlight<\/a><\/p>\n\n\n\n<p>The planned restrictions aim to enhance tax compliance and broaden the tax base, making it necessary for individuals to comply with tax regulations. The government\u2019s approach marks a shift from the non-filer classification, meaning individuals will no longer be able to pay a nominal fee to bypass tax obligations on specific transactions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) has recently announced plans to eliminate the category of non-filers and implement new measures aimed at improving tax compliance, according to a news source on September 25. Read: Deadline for filing tax-returns: FBR makes important announcement In line with the shared details, the FBR is actively working on implementing these changes through an ordinance, collaborating with the law ministry to establish the necessary regulations. This initiative will initially introduce five restrictions on non-filers, including limitations on property purchases, vehicle acquisitions, international travel (excluding religious trips), the opening of current bank accounts, and investments in mutual funds. The government will utilise advanced machine learning and algorithms to identify non-filers more effectively. This approach will help ensure that individuals whose income levels do not align with their transaction volumes are monitored appropriately, as the Prime Minister approves. FBR Chairman Rashid Mehmood highlighted that traditional bank checks have become less effective, with only PKR 25 billion collected from non-filers last year in the form of fees. He emphasised that while industrialists support the automation of tax processes, the lack of taxation on the agriculture sector could hinder the overall tax-to-GDP ratio. Read: New FBR regulations put&hellip;<\/p>\n","protected":false},"author":88,"featured_media":99068,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[54453,19230,59485],"persona":[],"class_list":{"0":"post-99486","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-fbr-news-and-updates","9":"tag-federal-board-of-revenue-fbr","10":"tag-new-tax-measures","11":"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>FBR Tightens Circle as New Tax Measures Issued - Zameen News<\/title>\n<meta name=\"description\" content=\"The FBR plans to eliminate non-filers and enhance tax compliance with new measures, aiming for improved financial regulations in Pakistan.\" \/>\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\/fbr-tightens-circle-new-tax-measures-issued.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR Tightens Circle as New Tax Measures Issued - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The FBR plans to eliminate non-filers and enhance tax compliance with new measures, aiming for improved financial regulations in Pakistan.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-tightens-circle-new-tax-measures-issued.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-25T05:45:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-25T06:00:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2024\/09\/FBR_news-cover.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Muhammad Zohaib Nasir\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Muhammad Zohaib Nasir\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FBR Tightens Circle as New Tax Measures Issued - Zameen News","description":"The FBR plans to eliminate non-filers and enhance tax compliance with new measures, aiming for improved financial regulations in Pakistan.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/news\/fbr-tightens-circle-new-tax-measures-issued.html","og_locale":"en_US","og_type":"article","og_title":"FBR Tightens Circle as New Tax Measures Issued - Zameen News","og_description":"The FBR plans to eliminate non-filers and enhance tax compliance with new measures, aiming for improved financial regulations in Pakistan.","og_url":"https:\/\/www.zameen.com\/news\/fbr-tightens-circle-new-tax-measures-issued.html","og_site_name":"Pakistan Real Estate News &amp; 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