ISLAMABAD (Kashmir English): The government has proposed a series of stringent financial restrictions on non-filers as part of its efforts to broaden the tax base and pave the way for documentation of the economy, in the Federal Budget 2025–26.
Finance Minister Muhammad Aurangzeb, presented the budget in the National Assembly and announced a proposal to bar non-filers from purchasing vehicles or immovable property, and they will not be permitted to invest in securities or mutual funds.
As per the new proposals, advance tax will be enhanced on cash withdrawals by non-filers from 0.6% to 1%.
The finance minister further said that only those who submit tax returns and wealth statements will be allowed to engage in formal financial transactions.
Non-filers can’t open bank accounts
A further proposal has been put forward to prohibit non-filers from opening bank accounts, a move expected to significantly impact undocumented financial activity.
The proposed measures, if approved, would form one of the most aggressive steps taken by the government to force citizens to join the formal tax net and improve fiscal transparency.
