Government Plans Tax Hikes, Penalties for Non-Filers in New Budget
In case of no reply from them, the non-filers mobile phone sims, electricity, and gas will be disconnected,” according to sources.
“The process of blocking sims of non-filers will continue in the next financial year,
The government has devised a plan to enhance tax collection in the next financial year’s budget being tabled in the Parliament today.
Through its enforcement plan, the FBR will increase tax revenues in the next fiscal year.
In budget tax exemptions in sales tax, income tax, and customs duties will be withdrawn to enhance revenues.
Moreover, by imposing a sales tax on petroleum products, the government will increase tax revenues. Tax recoveries will enhance with the surge in imports.
There is a proposal to slap additional tax in the budget for non-filers.
Moreover, to bring the retail sector into the tax net steps will be taken in the next financial year’s budget.
The FBR will collect tax from the sectors of the economy currently outside the tax net.
There is a budget proposal to impose additional tax on the real estate sector.
