Govt Plans to Block Bank Accounts of Non-Filers

The government may block bank accounts of non-filers as part of the amended Finance Bill 2024.

According to ProPakistani, the proposal to freeze bank accounts of non-filers was included in the original Finance Bill 2024, but it was not initially approved.

However, if non-filers do not respond to tax notices by the Federal Board of Revenue, the government might block their bank accounts until they file their taxes and appear on as active taxpayers.

Non-filers will still be allowed to deposit money into their bank accounts, but they won’t be able to withdraw it until they file their taxes and their names are added to the Active Taxpayers List (ATL).

If the proposal becomes part of the amended Finance Bill 2024, the Federal Board of Revenue (FBR) will issue a notice listing non-filers whose bank accounts will be blocked.

This change aims to make the tax system fairer and encourage more people to file their taxes and increase revenue as per instruction of the International Monetary Fund (IMF). The new Finance Bill 2024-25 shows how desperate the government is to increase its revenue.

Follow INCPAK on | Facebook | Twitter | Instagram | for updates.