Islamabad, December 18, 2024: The federal cabinet has rejected a proposal to issue four ordinances aimed at increasing tax revenue. According to sources cited by a private news channel, this decision was made during yesterday’s cabinet meeting. The ordinances were recommended to address a potential tax shortfall of Rs. 600 billion.
Sources revealed that cabinet members opposed the issuance of ordinances for boosting tax revenue, emphasizing that the proposed measures should instead be approved through a bill in Parliament.
The recommendations reportedly included imposing restrictions on non-filers from purchasing land, vehicles, and other assets. Proposed amendments to the Sales Tax Act, Income Tax Ordinance, Federal Excise Act, and ICT Act were also part of the package.
Sources highlighted concerns over a loophole allowing non-filers to temporarily file returns solely for property transactions and then cease filing afterward.
Additionally, it was suggested to ban the sale of goods nationwide without tax stamps and to confiscate items sold without such stamps. The federal cabinet has directed Federal Board of Revenue (FBR) officials to consult with provincial governments regarding these measures.
