ISLAMABAD: Leading tax experts and chartered accountants have strongly supported the upcoming Tax Laws (First) Amendment Ordinance 2024 of Chairman Federal Board of Revenue (FBR) Rashid Mahmood Langrial to ensure prosecution of non-filers and late filers.
In this regard, former Chairman FBR Shabbar Zaidi told Business Recorder on Sunday that the government has taken this major step in the right direction to promulgate Tax Laws (First) Amendment Ordinance 2024 to take action against non-filers and late filers. The legal cover given to the non-filers would be ended after promulgation of the Tax Laws (First) Amendment Ordinance 2024. The non-filers must be prosecuted, he said.
Income Tax Ordinance: FBR drafting new law to end categories of ‘late-filers’, ‘non-filers’
Shabbar Zaidi stated that the legal validity of the non-filers would be ended under the proposed Tax Laws (First) Amendment Ordinance 2024. The prosecution of non-filers is necessary, who have been given legal cover under the income tax law. “In 2019, I ended the category of non-filers”, top international tax expert said.
There are three categories required to be covered under the Tax Laws (First) Amendment Ordinance 2024. Firstly, non-filers; secondly, late-filers and thirdly, those citizens not required to file returns. The FBR must do justice with the third category of persons, not legally required to file income tax returns, top tax expert added.
Copyright Business Recorder, 2024
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