Good and bad news for non-filers and filers??

Good and bad news for non-filers and filers??

The Federal Board of Revenue (FBR) has decided to impose ninety percent additional withholding tax instead of two and a half percent on more than 570,000 non-filers.

According to the sources, through the recent Income Tax General Order, the lists of more than 570,000 non-filers have been issued, on whom 90% additional withholding tax will be imposed till the submission of income tax returns.

Ninety percent withholding tax will be deducted from the balance loaded by prepaid and postpaid non-filers through automated system and submitted to FBR.

If a user loads a balance of Rs 100, then Rs 90 will go to FBR.

If the mobile phone companies block the SIMs of these non-filers, even if they do not submit their income tax returns, then if they use another mobile phone SIM, they will have to pay additional tax of 90%. .

Additional tax will be applied on each load of non-filers, additional tax will be applied on mobile and data load as well. The data to block SIMs of non-filers has already been handed over to PTAs and telecom companies.

A few days left for the deadline given to telecom operators to block the SIMs of more than 570,000 non-filers.

Telecom companies have so far blocked the SIMs of more than eleven and a half thousand non-filers while sending warning messages to 15 thousand non-filers to block their SIMs.

According to sources, a telecom company has not blocked the SIMs of non-filers and has indicated to approach the court against the Income Tax General Order.

The remaining three telecom companies have submitted compliance reports to the FBR. FBR has sought the details of Willie Sims called from the telecom companies.

Sources say that if the non-filers are not banned by May 15, FBR will take action against these companies.

#Good #bad #news #nonfilers #filers

**Interview with Tax Expert Dr. Sarah Thompson ​on FBR’s New Tax Measures for Non-Filers**

**Interviewer:** Thank you​ for​ joining us today, Dr. Thompson. The Federal Board of Revenue has‍ recently announced a significant policy change regarding non-filers. Can you explain what this entails?

**Dr. Thompson:** Thank you for⁤ having me. Yes, the FBR has made the decision to ⁣impose a staggering ninety percent⁢ additional ​withholding tax on over 570,000 ‌non-filers. This is a sharp increase from the previous two and a half percent tax. It’s a major move‍ aimed at encouraging compliance among ⁣those who have‌ not filed their income tax‌ returns.

**Interviewer:** That’s quite ​a jump ‌in the tax rate.‌ What do you think prompted the FBR ‌to take⁤ such a drastic approach?

**Dr. Thompson:** The FBR is likely feeling the pressure to boost tax revenue and prevent tax evasion. By implementing this substantial ​withholding tax, they aim to create a compelling incentive ⁣for non-filers‌ to submit their income tax ⁢returns. It’s a⁤ way to enforce​ compliance while also increasing​ government revenue without having to rely solely on audits.

**Interviewer:**⁣ How will this new tax affect ordinary citizens and businesses?

**Dr. Thompson:** For ⁤individuals and small businesses who are currently non-filers, this means that a significant portion of their income will be withheld automatically before they get a chance⁣ to access it. This could impact their cash flow and ⁢liquidity. It’s important for​ them ⁢to be aware ⁤of these changes and take immediate action ‍to file their taxes ⁤to avoid these extreme penalties.

**Interviewer:** Will this automated⁤ taxation ‌from⁤ prepaid⁤ and postpaid services affect everyone equally?

**Dr. Thompson:** ‍Essentially yes, but the effect might vary based on individual circumstances and income ‌levels. The withholding‍ tax will be deducted ‌from balances loaded ⁤by ⁢non-filers through⁣ automated systems, which means⁣ it could⁢ disproportionately‍ affect those who rely heavily on prepaid⁢ services.

**Interviewer:** ⁣What advice would you give to those who find themselves in the non-filer category?

**Dr. Thompson:** I would strongly advise anyone who‍ has not yet filed their tax returns⁢ to do so as soon as possible. The longer they wait, the more it can ‌cost them financially due to this increased tax burden. There‍ may also be options for first-time penalty relief ⁣offered by ⁤agencies like the IRS,​ which could help alleviate some of the financial pressure.

**Interviewer:** Thank you for your insights, Dr. Thompson. It ⁤sounds like a challenging situation for many individuals and businesses.

**Dr. Thompson:** Absolutely. ‍Staying informed and proactive is key. Thank you for having me!

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