The Federal Board of Revenue (FBR) is planning to bombard compliant taxpayers with new enforcement measures that will restrict them from withdrawing more than Rs. 30 million in cash annually.
Filers who earn over Rs. 10 million in income will only be permitted to purchase cars, while they would need to give proof of their source of income before buying property. Those earning less than Rs. 10 million will be required to justify their income before making any purchases of cars, plots, or investments in securities and mutual funds.
The federal government wants to do everything within and beyond its powers to achieve this fiscal year’s unrealistic tax target of Rs. 12.97 trillion. Through FBR, it aims to collect Rs. 450 billion by implementing complicated enforcement measures as mentioned above.
Despite a significant revenue shortfall in the July-September quarter, Prime Minister Shehbaz Sharif has ruled out introducing a mini-budget. Finance Minister Muhammad Aurangzeb is expected to meet IMF officials next week, as the government seeks to avoid further economic challenges.
With inflation, growth projections, and enforcement measures in focus, the FBR remains confident that it can meet its goals, but the pressure on both compliant taxpayers and non-filers is set to increase dramatically.
They will not meet even previous years collections, illogical and non-justified tax collection , targetting only one type and facilitating others( a list we even cant talk about) in this system, aided by the most corrupt FBR.
However few will be exempt from this.
Those are signals that country is going bankrupt
So many Europeans countries not allowed cash withdrawn more than 400 euro.
It is necessary to stop cash dealings.
Put saving account limit upto 50000 per month without tax. If more than limit charge 2% advance tax.
Thats why businessman are leaving UK. Read the news.
Its not business friendly.
Businesspersons should be given freedom to buy and purchase, its government duty to charge them taxes on sale purchase.
Countries like Pakistan can’t afford these kind of restrictions.
Sunkhanallah, Warr gaya Pakistan ka business.
I don’t know how much taxes and restrictions this government will implement???
Every week new news about taxes. What the hell is this???
Government should facilitate the businessmen to make transactions freely and frequently without any barriers, which creates the income and definitely Government would be benefitted with enhanced taxes.. instead imposition of restrictions.
If i am paying tax and declaring my income and have cash in bank why cant i widraw this make no sense why cant i use my own declared white income
Make no mistake,high income filers especially complaints also hold pillars of economy.a weakening or collapsing of each piller will have impact on the structure.
All cash payment should be discontinued payments should be through barcodes ,debit cards and others electronic means currency note of rupees 5000, 1000 and 500 should be discontinued in first instance to avoid thieft of taxes and elemination of corruption
So when links or internet service goes down or card malfunctions to asp as keh sab ka pay kardena . Bongeya
Such non sense will force filers not to file tax return in future. FBR should introduce and offer incentives to encourage tax payers rather discouraging them by so called rules.
Oxygen Tax Awaited
Alhumdulillah I now see a proper CIVIL War starting where it will be the most deadly one. INSHAALLAH
Nah bro, yeh awam sorahi hai aur yeh soti rahy gi
What about agriculture tax. IMF wants politicians to tax themselves heavily and fairly and contribute to economy like poor tax payers do
FBR should first stop treating taxpayers their enemies. It’s a baffling situation they are taking strict measures against filers instead of non filers.
It means their stupid policies are saying this country is not having place to live clean, filler & tax payer persons
Should filers start keeping their hard earned white money under the mattress.
These are IMF condition, IMF is not compelling them towards growth side but it’s only focusing on tax collection to achieve their goals that’s a clear sign of where we are heading toward
instead of reducing expenditure government wants to increase revenue by increasing taxes, fools paradise.
This may encourage people to avoid filing tax returns. Why FBR is teasing taxpayers instead of working hard to bring more people (businesses community) in tax net
One of the Worst, corrupt and Non sense Government of Pakistan. People should resist against such crual lawas.
There should be one more restriction that the filer should inhale oxygen 1300/day and non file 750/day .
Plus filer should change dress once in week and non filer are restricted to change dress one in month
What ABT exhaling 😄😄
What about gas release tax credit? Anyone who fart will get a tax credit of 100/fart, which will be deducted against respiration for 6 hours. A person who fart 4 times per day will be free to respire and inhale oxygen, while others will pay remaining tax through Jazz Cash :D
In this way they are trying to open more avenues of informal economy and kick backs by black mailing the business community especially the filers
Restrictions on our own money that’s injustice, forcing people and making them puppets. Providing no facilities and taking taxes
Such draconian measures that too for the compliant tax payers will only lead to disaster!
We no need to pay any tax for the shakharchia of corrupt and by forced developed American govt who only take money from Pakistan and they sending our tax money to foreign for their bank balance
Incomitance of fbr chief who are suspending registered person is reducing revenue through this suspension and black listing the payments made by Registered persons foe 10 percent of the out put sales has been reduced
Instead of granting sales tax refund on HS code basis pral is issuing refund on value of expirts that refund remain illegal and inordinate and above all the chief commissioners are suspending and black listingsales tax registered person inordinatly
The pral should be revamped from director level to board
They are now punishing us for still staying in Pakistan.
Why don’t they decrease the govt expenditure and stop corruption ,which is so rampant in all govt circle. They just want to punish the law abiding ppl of the country. This finance minister is good for nothing
How about applying the same to all politicians, and “those who must not be named”…
By this measures no body invest and trust very disappointing.
In SAARC countries teachers of all cadre are exempted from salaries taxes but here in pakistan teachers ‘s rebate in taxes had been reduced from 75% to 25%. My strongest request to restore 75% tax rebate for full time teachers please
Guess what, i will move abroad.
The president and the prime minister and the bureaucrats from all cabinets should contribute for their 5% funds, asset’s, cars, cash and the property then you can ask from public, and I believe there will be not need when you people donate 5%
Mera Tu na koi job hai na koi income hai me Tu university Ka student ho 2nd semester ab me kis chez Ka tax do Kahan sy Lao inhon ni mujh ko msg bheja
My name Mohammad Sohail Mohammad yousaf I am pakistani Adrees House No 116 street 3 kot liaqat hayat okara pakistan Punjab my number 0336 7431914 my brother name javeed iqbal Mohammad yousaf fone number 00923126984390 00923336984390 Pakistan okara
Honestly speaking they are not capable of any better reforms.
They are not reducing their expenses which can make huge impact.
Allah he Hafiz hai …
3310095167600
Government should reduce it’s development activities to cope with financial crunch. Why bullet/fast train between Lahore and Rawalpindi in the scenario of begging bowl in hand.