Sunday, September 25, 2022

Bank accounts of non-filers not frozen, says FBR


ISLAMABAD: The Federal Bureau of Revenue (FBR) on Monday clarified that it had not issued any instructions about freezing of bank accounts held by non-filers of income tax returns.

To allay the misconception stirred by a segment of print media, the FBR clarified that Income Tax Law did not restrict banking transactions from bank accounts held by any person whether filer or non-filer.

This should be noted that the last government had proposed in the budget that the non-filers will not be able to buy property and vehicles from fiscal year 2018-19, starting from July, which, it said, is aimed at broadening its tax base.

Later, a parliamentary panel recommended relaxing restrictions in terms of allowing the non-filers of the income tax returns to buy or import cars of up to 1,000 cc.

It had recommended that the non-filers should also be allowed to purchase residential homes or plots up to 10 marla or 302.5 square yards.

Read More: Curbs on non-filers in property, vehicles purchase will not be withdrawn: Miftah


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