The government is planning to introduce changes to the Finance Bill 2024 that would allow freezing the bank accounts of individuals who do not file their taxes. This move is aimed at increasing tax compliance and encouraging more people to join the Active Taxpayers List (ATL).
The original Finance Bill 2024 included this proposal, but it was not approved. Now, the government is revisiting it. If someone ignores tax notices, their bank accounts could be blocked until they become a filer and their name appears on the ATL.
Non Filers Banking Rules
Non-filers will still be able to deposit money into their bank accounts. However, they won’t be allowed to withdraw funds until they meet the tax filing requirements and join the ATL. The Federal Board of Revenue (FBR) will issue a list of non-filers whose accounts will be frozen if this proposal is enacted.
The amended Finance Bill 2024 is under review and is expected to be presented for approval soon. This change, if implemented, could significantly impact non-filers, urging them to regularize their tax status to avoid financial inconveniences.
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