{"id":36381,"date":"2024-05-15T17:53:13","date_gmt":"2024-05-15T12:53:13","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=36381"},"modified":"2024-05-15T17:53:13","modified_gmt":"2024-05-15T12:53:13","slug":"budget-2024-25-fines-on-unregistered-traders-non-filers-proposed","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/business\/budget-2024-25-fines-on-unregistered-traders-non-filers-proposed\/","title":{"rendered":"Budget 2024-25: Fines on unregistered traders, non-filers proposed"},"content":{"rendered":"

ISLAMABAD: As preparations for the budget 2024-25 are underway, the federal government has decided to enhance the crackdown against those not registered in Tajir Dost App and increase taxes on non-filers, aiming to bring them into the tax net.<\/p>\n

According to FBR sources, notices will be sent to traders who are not registered in the Tajir Dost App and a fine of up to 10,000 rupees will be imposed under Section 182 of the Income Tax Ordinance for not registering with the app.<\/p>\n

As negotiations between Pakistan and the International Monetary Fund (IMF) continue for the upcoming budget there is a possibility of increasing the tax on imported vehicles of more than 1300 cc and withholding tax on all new vehicles of more than 850 cc.<\/p>\n

READ MORE:\u00a0Federal govt likely to present Rs9,300 billion deficit budget on June 7<\/a><\/strong><\/em><\/p>\n

Moreover, sources privy to the development said that there is a proposal to impose additional tax on cash withdrawals from banks by non-filers. It is also proposed to increase the advance tax from 0.6% to 0.9% on non-filers for withdrawals of more than 50,000 rupees.<\/p>\n

The increase in cash withdrawal tax is estimated to collect more than 15 billion rupees.<\/p>\n

Furthermore, in the upcoming budget, it has also been proposed to increase the tax on the import of non-essential and luxury items. The budget is also likely to increase duty on non-essential and luxury items.<\/p>\n

In the upcoming budget FY 2024-25, the government is considering abolishing or reducing tax concessions in the Sixth Schedule.<\/p>\n","protected":false},"excerpt":{"rendered":"

ISLAMABAD: As preparations for the budget 2024-25 are underway, the federal government has decided to enhance the crackdown against those not registered in Tajir Dost App and increase taxes on non-filers, aiming to bring them into the tax net. According to FBR sources, notices will be sent to traders who are not registered in the […]<\/p>\n","protected":false},"author":14,"featured_media":36404,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[16180,16982,16983],"class_list":["post-36381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-budget-2024-25","tag-fines-on-non-filers","tag-pakistan-budget-proposals"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/36381","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=36381"}],"version-history":[{"count":0,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/36381\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/36404"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=36381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=36381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=36381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}