To close the enormous yearly revenue shortfall of Rs 7,100 billion, the Federal Board of Revenue (FBR) has implemented strict procedures to prevent tax cheating.
New measures aim to enhance tax income by making life more difficult for non-filers nationwide, since tax evasion has increased by Rs 1,200 billion.
Millions of non-filers will reportedly be subject to severe limitations, such as being unable to open bank accounts, purchase cars, or acquire real estate.
To impose these limits, the FBR has chosen to provide the State Bank of Pakistan and commercial banks with data on non-filers. Additionally, investing in securities, mutual funds, and the money market will be prohibited for non-filers.
