President Alvi promulgates tax laws comprising new penalties for non-filers
ISLAMABAD – President Arif Alvi on Friday promulgated new tax laws, empowering the authorities to disconnect mobile phones/SIMS, electricity and gas connections of persons who are required to file tax returns but fail to appear on the Active Taxpayer List (ATL).
The president promulgated the Tax Laws (Third Amendment) Ordinance 2021 for allowing the Federal Board of Revenue (FBR) to share its data with the National Database and Registration Authority (NADRA) with the objective to broaden the tax net.
NADRA shall share its records and any information available or held by it with the Board, as per the ordinance.
The ordinance contains strict penalties for persons who do not file tax returns. A penalty of Rs 1,000/- per day of default has been included in the Ordinance.
The government has also increased the amount of penalty for tier-1 retailers who are not integrated with the FBR and imposed an additional advance tax on rates ranging from 5% to 35% on professionals using domestic electricity connections.
The Ordinance identifies professionals as accountants, lawyers, doctors, dentists, health professionals, engineers, architects, IT professionals, tutors, trainers, and other persons engaged in the provision of services.
Moreover, the government has excluded steel and edible oil sectors from the charge of further tax.
The Tax Laws (Third) Amendment Ordinance 2021 has provided the right of appeal to importers against valuation ruling with the FBR Member Customs Policy.
SCO Summit – Chinese FM Wang Yi calls on PM ... 02:30 PM | 17 Sep, 2021
Chinese Foreign Minister Wang Yi called on Prime Minister Imran Khan on the sidelines of Shanghai Cooperation ...
- PM Imran thanks MBS after Saudi Arabia revives $3bn support to ...12:28 PM | 27 Oct, 2021
- Pakistan observes Black Day, shows resolute support for Kashmiris11:49 AM | 27 Oct, 2021
- ‘Security issue resolved’: Fans mock Kiwis after Pakistan ...11:24 AM | 27 Oct, 2021
- Shoaib Akhtar quits PTV Sports over Nauman Niaz's 'obnoxious' ...10:55 AM | 27 Oct, 2021
- Twin cities' areas sealed to intercept TLP long march10:28 AM | 27 Oct, 2021
- Shaista Lodhi all set to become the new face of PTV's morning show04:59 PM | 26 Oct, 2021
- Birthday wishes pour in as Faysal Quraishi turns 4804:29 PM | 26 Oct, 2021
- Minal Khan shares glimpses of her Nathia Gali trip with Ahsan Mohsin ...06:00 PM | 26 Oct, 2021
- Pakistani celebrities who passed away in 202102:00 PM | 17 Oct, 2021
- India falls to 101 in Global Hunger Index 2021, 9 ranks below Pakistan10:54 AM | 16 Oct, 2021
- Celebrity deaths in 202111:59 PM | 12 Oct, 2021
- Hollywood stars with surprising hidden talents07:11 PM | 13 Sep, 2021