Thursday, October 6, 2022

NAB, Nadra get access to tax data under new ordinance

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ISLAMABAD: President Dr. Arif Alvi has promulgated a new ordinance giving the National Accountability Bureau (NAB) and National Database and Registration Authority (Nadra) access to the data of taxpayers.

Under the Tax Laws (Third Amendment) Ordinance 2021, the Federal Board of Revenue (FBR) has been given powers to disconnect mobile phone and power connections of the non-filers of tax returns.

Also Read: SINDH GOVT WRITES TO NEPRA TO ALLOW LOCAL TAXES COLLECTION VIA KE BILLS

Besides, the non-filers could also be deprived of banking facilities.

The new law stipulates a punishment of one year imprisonment and Rs0.5 million fine for persons who provide wrong information to evade tax.

The ordinance empowers the anti-corruption watchdog to reopen two-decade old transactions. Moreover, it has also been given access to offshore tax data the Organisation for Economic Cooperation and Development (OECD) shares with Pakistan.

Also Read: PM KHAN COMMENDS FBR ON RECORD TAX COLLECTION OF RS850B IN JULY-AUGUST

The government has imposed a 35% additional income tax on electricity bills of non-filer professionals.

The ordinance is aimed to broaden the tax base of the country.

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