PTI Government issued another Ordinance to Catch Tax Evaders

ISLAMABAD: Providing false information related to tax will result in a fine of at least Rs 500,000 and one year imprisonment. President Arif Alawi has signed the Tax Laws Amendment Ordinance 2021.

The government issued an ordinance to catch tax evaders. President Arif Ali signed the Tax Laws Amendment Ordinance 2021. According to the ordinance, the implementation of the ordinance gave NAB and Nadar access to the details of taxpayers.

With the enactment of the ordinance, the exemption of disclosing tax details to parliamentarians and government officials has been abolished. Providing false information about tax will result in a fine of at least Rs 500,000 and one year imprisonment. The ordinance states that the FBR will be able to disconnect the telephone and electricity connections of non-filers. Non-filers may also lose banking facility. The NAB has also been given the power to reopen cases that have been closed for more than 20 years.

The NAB has the right to access offshore tax data received under the OECD. According to the ordinance, various slabs of electricity bill for non-filer professionals have been taxed up to 35% each.

Professionals include lawyers, doctors, accountants, engineers, IT professionals and other service providers. Companies and the corporate sector can make digital remittances up to Rs 25,000.