The government has introduced tough new measures targeting tax non-filers in the 2025-26 budget. Finance Minister Muhammad Aurangzeb announced these steps during his budget presentation in the National Assembly.
Key measures include:
– Increasing the advance tax on cash withdrawals by non-filers from 0.6% to 1%
– Removing the distinction between filers and non-filers in the tax system
– Making tax returns and wealth statements mandatory for financial transactions
Under the new proposals, non-filers will face several restrictions:
– They cannot buy vehicles
– They cannot purchase property
– They cannot invest in securities or mutual funds
– They may be prevented from opening new bank accounts
These measures aim to encourage more people to file tax returns and increase tax compliance across the country. The finance minister emphasized that only those who fulfill their tax obligations will have full access to financial services and investment opportunities.
The proposals are part of the government’s broader effort to expand the tax base and improve revenue collection in the coming fiscal year.
