Photonews Logo Photonews logo
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Azad Jammu Kashmir
    • Balochistan
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
    Gen V Season 2 trailer
    Videos

    Gen V Season 2 Trailer Cast, Plot, Premiere Details

    July 26, 2025 3 Min Read
    IShowSpeed Daniel La Belle race
    Videos

    IShowSpeed Beats Daniel La Belle in 40-Meter Race, Hits 41M Subscribers

    June 24, 2025 2 Min Read
    Cardi B new single Outside
    Videos

    Cardi B’s ‘Outside’ Single Sparks Buzz Over Offset and Stefon Diggs

    June 20, 2025 2 Min Read
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Reading: Tax Laws Amendment Bill 2024 Introduced in National Assembly
PhotoNews Pakistan PhotoNews Pakistan
Font ResizerAa
Search
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Balochistan
    • Azad Jammu Kashmir
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Have an existing account? Sign In
Follow US
© 2022 Photonews. All Rights Reserved.
Bank Tax Restructure in Pakistan
PhotoNews Pakistan > Business > Tax Laws Amendment Bill 2024 Introduced in National Assembly
Business

Tax Laws Amendment Bill 2024 Introduced in National Assembly

Web Desk
By Web Desk Published January 21, 2025 2 Min Read
Share
Tax Reforms. Photo: The News International
SHARE

The National Assembly introduced the Tax Laws Amendment Bill 2024, which is now under review by the Standing Committee. This committee will examine the bill, clause by clause, and make necessary decisions. They have already endorsed the most stringent amendments concerning Sales Tax.

The draft outlines the bill’s primary goal of enforcing income-based tax compliance. The bill introduces harsh penalties for non-filers, including potentially freezing their bank accounts. Section 14A of the Sales Tax Act allows the immediate freezing of bank accounts for individuals who do not register for sales tax. Additionally, these individuals will face restrictions on property transfers.

However, the bill provides a remediation path: accounts can be unfrozen within two days following the completion of sales tax registration. To initiate the unfreezing process, affected individuals must appeal to the Chief Commissioner.

Earlier discussions highlighted ongoing Federal Board of Revenue (FBR) issues. Rashid Langrial, FBR Chairman, acknowledged the persistence of corruption during a briefing to the National Assembly’s Standing Committee on Finance. He emphasized that the proposed changes aim to broaden the tax base by targeting high-income earners and major business transactions. The new regulations would empower FBR officers to tackle black money and tax evasion effectively.

TAGGED:Featured
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Advertisement

HBL Saving Made Easy
HBL Saving Made Easy

Recent Posts

PTA Chairman reinstatement

IHC Reinstates PTA Chairman Hafeez-ur-Rehman After Day of Legal Drama

NADRA Mega Centers in Karachi

NADRA Opens 3 New Mega Centers in Karachi

Imran Khan letter CJP Yahya Afridi from Adiala Jail

Imran Khan Writes Emotional Letter to CJP from Adiala Jail

Post Archives

More Popular from Photonews

NCCIA social media crackdown
Pakistan

Pakistan Cracks Down on Anti-State Social Media Campaigns

2 Min Read
Kylie Jenner car paint prank
Entertainment

Kylie Jenner’s $160,000 Car Hit with Paint and Toilet Paper Prank

2 Min Read
Lewis Hamilton Ashley Moore
Sports

Lewis Hamilton Sparks Romance Rumors with Model Ashley Moore

3 Min Read
Top NewsWorld

Utah Seeks Death Penalty for Tyler Robinson in Charlie Kirk Killing

Utah prosecutors announced they will seek the death penalty for 22-year-old Tyler Robinson, accused of assassinating…

September 17, 2025
Punjab

Pakistan Army Chief Visits Flood-Hit Areas, Pushes for Better Relief Efforts

Chief of Army Staff Field Marshal Syed Asim Munir visited flood-hit areas in Kasur and Multan.…

September 13, 2025
Business

PIA Posts First Half-Year Profit in 20 Years Ahead of 2025 Privatization

Pakistan International Airlines (PIA) announced a pre-tax profit of Rs11.5 billion ($40.64 million) for the first…

September 16, 2025
Punjab

Punjab Intermediate Part-II Results 2025: Date, How to Check Online & SMS

The Punjab Board of Intermediate and Secondary Education (BISE) has announced the Punjab Intermediate Part-II results…

September 16, 2025
PhotoNews Pakistan

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Categories

  • World
  • Pakistan
  • Punjab
  • Sindh
  • Khyber Pakhtunkhwa
  • Balochistan
  • Azad Jammu Kashmir

 

  • Top News
  • Business
  • Entertainment
  • Sports
  • Videos
  • Tech
  • Offbeat
  • Blog

© 2024 Phototnews
All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?