Islamabad, Sep 13: FBR to Freeze Accounts Over Incorrect Tax Returns.
In addition, the FBR has suggested outlawing the purchase of automobiles and real estate, cutting off utilities, and severely penalizing taxpayers who submit inaccurate or deficient tax forms.
The goal of Member Inland Revenue (Operations)’s proposed policy adjustments is to reduce tax non-compliance, especially from individuals who file false or incomplete tax returns.
These policies would encompass both sales tax and income tax, and they would be applicable to all parties, including Tier-1 merchants and manufacturers.
- Disconnection of utilities of all those filing incorrect or incomplete returns.
- Freezing bank accounts for all those filing incorrect or incomplete returns.
- Bar on purchase of any property or vehicle for all those filing incorrect or incomplete returns.
- Increased transparency by involving third-party monitoring for all those filing incorrect or incomplete returns
The FBR to Freeze Accounts Over Incorrect Tax Returns thought that taking these actions would be crucial to accomplishing our budgetary goals and fortifying our tax enforcement system. We are eager to talk more about these ideas and welcome any recommendations on how to improve them so that they have the greatest possible influence.
