FBR to Ban Purchase of Cars, Property and Bank Transactions for Non-Filers

The government is preparing to further tighten restrictions on non-filers. Non-filers will be prohibited from purchasing vehicles over 800cc, opening bank accounts, and buying or transferring property. Properties and businesses may also be sealed if tax registration is not completed.

Finance Minister Muhammad Aurangzeb has presented the Revenue Amendment Bill 2024 in the National Assembly. According to the bill:

• Non-filers will be prohibited from purchasing vehicles over 800cc.
• Non-filers will not be allowed to purchase property beyond a certain limit.
• Non-filers will also be restricted from purchasing shares beyond a specific threshold.
• Non-filers will not be able to open bank accounts.
• Non-filers will be restricted from conducting banking transactions beyond a certain limit.
• However, non-filers will still be allowed to purchase motorcycles, rickshaws, and tractors.

For unregistered businesses:

• Bank accounts of unregistered business owners will be frozen.
• Unregistered individuals will not be allowed to transfer property.
• The government will have the authority to seal the properties and businesses of unregistered individuals.
• The FBR (Federal Board of Revenue) will issue a list of individuals whose accounts will be frozen.

The restrictions will come into effect after a notification from the federal government.

• Bank accounts will be frozen for failure to register for sales tax.
• Property transfers will also be prohibited for those who fail to register for sales tax.
• Accounts will be restored two days after sales tax registration.
• Appeals for account restoration can be made to the Chief Commissioner.

Additionally, the parents, spouse, and children (up to 25 years of age) of a filer will also be considered filers.

The Deputy Speaker has referred the bill to the National Assembly Finance Committee for further consideration.