Search

Senate approves travel ban for non-filers

03:59 PM | 15 Jun, 2024
Travel ban

In a significant move aimed at bolstering tax compliance, the Senate Standing Committee on Finance has approved a proposal that will bar non-filers from traveling abroad. This decision, taken under the chairmanship of Senator Salim Mandviwala, marks a major step in enforcing tax laws and ensuring accountability.

The Chairman of the Federal Board of Revenue (FBR) outlined the stringent measures to be implemented against non-filers under the Income Tax General Order. Notably, exemptions will be provided for individuals traveling for Hajj and Umrah, young children, students, and overseas Pakistanis holding the National Identity Card for Overseas Pakistanis (NICOP).

Broad Repercussions for Non-Filers

Beyond the travel restrictions, non-filers will also face severe penalties, including the disconnection of their mobile SIMs, electricity, and gas connections. Senator Farooq H. Naik underscored the gravity of these measures, likening them to being placed on the exit control list (ECL), which restricts individuals from leaving the country.

Naik also pointed out that non-filers are already subjected to higher withholding tax rates, and now their essential services and business operations could be at risk of suspension.

Targeting High-Income Evaders

The FBR Chairman disclosed that the list of non-filers includes around 500,000 individuals with an annual income exceeding Rs 2 million. These individuals had previously declared their income but failed to file subsequent tax returns. Additionally, those who temporarily file tax returns to acquire assets like cars, plots, or houses will face extra scrutiny and additional taxes.

This initiative is part of a broader effort to clamp down on tax evasion and increase the tax net. By implementing such stringent measures, the government aims to compel compliance and ensure that all eligible citizens contribute their fair share to the national exchequer.

Ensuring Compliance and Accountability

The approval of these measures by the Senate Standing Committee on Finance signifies a robust approach to dealing with tax non-compliance. It sends a clear message that the government is serious about tax enforcement and is willing to take tough steps to ensure compliance.

As these measures come into effect, non-filers will need to reassess their tax strategies to avoid the harsh penalties and disruptions that could follow. The government's resolve to enforce these rules underscores the importance of adhering to tax laws and fulfilling civic duties.

Advertisement

US Dollar, Euro, Pound, Dirham, Riyal Rate in Pakistan Today Open Market Rates - 15 July 2024

Pakistani rupee rates against US Dollar and other currencies on July 15, 2024 (Monday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 279.8 for buying and 280.75 for selling. Euro's buying rate moves up to 301.25 and selling rate is 303.15.

British Pound rate is 355.15 for buying, and 358.65 for selling. UAE Dirham AED was at 76.5 and Saudi Riyal lowered to 73.65.

Currency Rates Today

Source: Forex Association of Pakistan. (last update 08:00 AM)       
Currency Symbol Buying Selling
US Dollar USD 279.8 280.75
Euro EUR 301.25 303.15
UK Pound Sterling GBP 355.15 358.65
U.A.E Dirham AED 76.5 77.25
Saudi Riyal SAR 73.65 74.37
Australian Dollar AUD 184.55 186.35
Bahrain Dinar BHD 741 749
Canadian Dollar CAD 203.75 205.75
China Yuan CNY 38.35 38.75
Danish Krone DKK 40.05 40.45
Hong Kong Dollar HKD 35.7 36.05
Indian Rupee INR 3.33 3.43
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 908.25 917.35
Malaysian Ringgit MYR 58.95 59.75
New Zealand Dollar NZD 169.24 171.24
Norwegians Krone NOK 26.04 26.34
Omani Riyal OMR 722.87 730.89
Qatari Riyal QAR 76.39 77.09
Singapore Dollar SGD 202 204
Swedish Korona SEK 26.5 26.8
Swiss Franc CHF 309.15 311.65
Thai Bhat THB 7.5 7.65



Advertisement

Follow us on Facebook

Follow us on Twitter

Sign up for Newsletter