The Federal Board of Revenue is planning to impose high property taxes on non-filers.
According to the agreement between the Federal Board of Revenue and the International Monetary Fund, the withholding tax on property for non-filers will increase.
The Pakistani government is stepping up efforts to boost revenue by targeting non-filers, with plans to increase the advance tax on the purchase of immovable properties for this group, as reported by a news source on May 18.
As the Pakistani government is in agreement with the International Monetary Fund to seek new loans for this period of government, the IMF is pushing the seeker to increase the tax on those areas which were not untouched so far.
The current tax authorities impose a 3 percent levy on filers and a 10.5 percent tax on non-filers, to collect Rs80 billion in revenue this fiscal year. The IMF is now recommending an increase in the advance tax rate for non-filers.
As we all know the government in pushing their efforts also proposed the blockage of mobile phone sim’s for non-filers as well.
