ISLAMABAD: The person, whose bank account has been used to commit tax fraud, would be considered as “abettor” and would be subjected to prosecution including punishment/ imprisonment.
Thus, the person operating business bank account to facilitate tax fraud would be considered as “abettor”.
The amended Finance Bill (2025-26) has revised the definition of “abettor”.
Key amendments made to Finance Bill: Tax fraud arrests only post-inquiry
According to the amended Bill, the “abettor” means a person who intentionally abets or connives in tax fraud as defined in clause (37) of section 2 or in the commission of any offence warranting prosecution under Sales Tax Act, and includes a person who, prepares, or causes to be prepared with or without authorization of the registered person, invoices for false claim of input tax adjustment.
The “abettor” also included a person who allows use of bank account held or operated by him for abetting tax fraud or other offence warranting prosecution under this Act or unauthorisedly or illegally maintains or operates business bank account in other registered person’s name, amended Finance Bill 2025-26 added.
Copyright Business Recorder, 2025
Comments
Comments are closed for this article.