FinMin’s bill seeks to bar non-filers from purchasing cars above 800cc, opening bank account

• Non-filers will not be allowed to buy property beyond certain limit.
• They will not be able to make transactions beyond a certain limit.
• Finance Minister Muhammad Aurangzeb introduces bill in NA. 

ISLAMABAD: The federal government on Wednesday introduced a bill aimed at amending tax laws, seeking to bar non-filers from purchasing cars above 800cc and opening bank account.

The proposed amendment titled The Tax Laws (Amendment) Bill, 2024, introduced by Finance Minister Muhammad Aurangzeb, proposes that non-filers will not be allowed to buy property beyond a certain limit.

The amendment also proposed that non-filers will be banned from purchasing shares above a certain limit and won’t be allowed to open a bank account. 

According to the bill, non-filers will not be able to make transactions through a bank beyond a certain limit. However, they will be allowed to buy motorcycles, rickshaws and tractors.

Moreover, bank accounts of the non-registered business persons will be frozen and they will be banned from transferring property. The amendment also proposed that the government will be authorised to seal the property and business of non-filers. 

The legislation also proposed that the accounts of those persons, who are in the list of Federal Board of Revenue (FBR), will be frozen. 

Under the proposed amendments, FBR will also be able to freeze bank account(s) and bar property transfer over failure to register with the top collection body for filing sales tax returns. 

However, their accounts will be unfrozen two days after the registration. 

The bill said restrictions will come into effect following the approval of the federal government.  

Additionally, the House also witnessed the presentation of a report by the Standing Committee on the National Commission on the Status of Women (Amendment) Bill, 2024, which seeks to amend the National Commission on the Status of Women Act, 2012.

The report was presented in the House by Chaudhary Mahmood Bashir Virk.