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The Federal Board of Revenue (FBR) has proposed stricter measures against current income tax filers, suggesting freezing bank accounts and imposing fines of up to Rs1,000,000 for submitting incorrect or incomplete tax returns this year.
According to the Business Recorder, the FBR aims to meet its tax collection target for September 2024 by recommending drastic actions against filers.
These include discouraging the purchase of automobiles or real estate, disconnecting utilities, and imposing heavy penalties. However, these measures are pending approval from the relevant authorities.
Leading tax advisers have raised concerns about the potential misuse of such harsh actions, fearing they could penalize compliant taxpayers who make unintentional errors in their returns. The proposed measures were reportedly introduced by the FBR’s Member Inland Revenue (Operations) to enhance enforcement and combat tax non-compliance.
