Pakistan proposes bill to restrict financial activities of tax non-filers to curb evasion.
Pakistan's Finance Minister, Muhammad Aurangzeb, has proposed a bill to restrict non-filers from purchasing vehicles over 800cc, opening bank accounts, buying property or shares beyond certain limits, and making large banking transactions. The bill also allows the government to freeze bank accounts and seize properties of unregistered businesses. These measures aim to curb tax evasion and boost tax compliance, with the goal of increasing Pakistan's tax-to-GDP ratio.
3 months ago
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