Federal Board of Revenue (FBR) chairman has said the body will \u2018freeze\u2019 the bank accounts of non-filers in the FY2025-26. The National Assembly\u2019s Standing Committee on Finance, chaired by Syed Naveed Qamar, convened to discuss the issue of enforcing sales tax registration for non-registered individuals and businesses. Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial revealed that non-registered entities will now receive formal notices, and failure to register will result in the freezing of their bank accounts. However, accounts will be reinstated within two days of compliance. According to the FBR, many businesses are income tax filers but remain unregistered for sales tax, including factories with multiple industrial meters. It was disclosed that several unregistered factories in Karachi alone are conducting billions worth of sales. Committee member Usman Ahmed Mela opposed the idea of sealing properties of non-registered entities, calling it excessive. The FBR chairman acknowledged the concern but maintained that this move is limited to large-scale manufacturing units, not small retailers or cottage industries. Naveed Qamar criticized the pressure tactics, saying, \u201cFirst you cut their electricity and gas, now you\u2019re shutting bank accounts too.\u201d FBR officials detailed how many operators in Karachi evade taxes by frequently shifting locations, operating high-volume manufacturing setups on a single plot before moving on. Committee member Mirza Ikhtiar Baig argued that such stringent measures should not affect small traders and suggested a sales threshold for mandatory registration. He proposed increasing the registration limit from Rs8 million to Rs10 million in view of inflation. The FBR Chairman agreed, stating that the limit would be raised to Rs 10 million and assured the committee that about two-thirds of manufacturing units are still unregistered. \u201cWe can allow six months\u2019 grace period with no sales tax collection for new registrants,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"
Federal Board of Revenue (FBR) chairman has said the body will \u2018freeze\u2019 the bank accounts of non-filers in the FY2025-26. The National Assembly\u2019s Standing Committee…<\/p>\n","protected":false},"author":1,"featured_media":25292,"comment_status":"registered_only","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[16],"tags":[],"class_list":["post-25291","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"aioseo_notices":[],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/posts\/25291","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25291"}],"version-history":[{"count":0,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/posts\/25291\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=\/wp\/v2\/media\/25292"}],"wp:attachment":[{"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.diplomacypakistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}