Likely amendments in finance bill: Govt becomes flexible about non-filers

ISLAMABAD: The government has decided to introduce amendments to the Finance Bill 2024 to give an opportunity to the non-filers before blockage of SIMs or ban on their foreign trips.

The proposed amendments in the Finance Bill 2024 are related to the non-filers, wealth statement, foreign assets, and withholding tax-related provisions.

The government on the recommendation of the Senate Finance Committee decided to give a chance to non-filers to file tax returns before going abroad. Earlier, the FBR had proposed in the bill that non-filers shall not be allowed to go abroad.

FBR may block bank accounts of non-filers

Moreover, the government has also decided that non-filer persons can go for Umrah or Hajj, whereas students are also exempted from filing tax returns.

Sources said the FBR on the recommendation of the Senate Finance Committee also added an explanation in the finance bill that the assets of the spouse shall only be included in the wealth statement of the person if the spouse is dependent.

In addition, sources said the FBR has also proposed some changes such as transfers of cases from Commissioner Appeal FBR to Appellate Tribunal.

The proposed amendment to the Finance Bill has added an explanation, “For the removal of doubt it is clarified that reference against order of the Commissioner (Appeals), received after the date of commencement of the Tax Laws(Amendment) Act, 2024, where the value of the assessment or, as the case may be, refund of the tax exceeds twenty million rupees, shall lie before the High Court notwithstanding the proceedings pending prior to the date of commencement of the said Act.”

Copyright Business Recorder, 2024