Aaj English TV

Wednesday, February 28, 2024  
17 Shaban 1445  

New measures planned to bring non-filers into tax net

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The federal government is planning to introduce new measures in the budget for fiscal year 2023-24 to help bring more non-filers in the tax net.

Sources said that a fine could be imposed for not filing a tax return, and even late tax return will leade to a fine.

A fine of Rs2,000 has been recommended in case a witholding statement is not filed by individual.

In case of tax default, an additional fine of Rs200 per day has been recommended.

It has also been recommended that the maximum fine for not filing tax return be raised to 25%.

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