Key features of Tax Laws Amendment Bill 2024

The FBR will have authority to impose restrictions on unregistered individuals. Unregistered persons may face bans on operating bank accounts, transferring immovable property or running businesses. Banking transactions for unregistered persons will be restricted.High-risk individuals’ banking and tax data will be shared. Restrictions will apply to vehicle purchase, registration and booking, except for rickshaws, motorcycles, tractors and vehicles up to 800cc.The distinction between filer and non-filer will be replaced by categories of eligible and ineligible individuals. Eligible people include close family members, including parents, spouse, sons under 25, unmarried or widowed daughters, special children.Affected individuals can appeal decisions to Inland Revenue chief commissioner within 30 days.