Islamabad:
In Federal Budget 2025–26, presented on Tuesday, the Government has proposed a series of strict financial restrictions and higher tax rates aimed at non -filtering as part of the efforts to expand the tax base and improve the documentation of the economy.
The Minister of Finance, Muhammad Aurengzeb, who presented the budget at the National Assembly, announced a proposal to increase the anticipated tax on cash withdrawals by non -filtering from 0.6% to 1%. The Government also aims to eliminate the distinction between filingers and non -filters in key financial matters.
The Minister of Finance declared that only those who present declarations of tax declarations and wealth may participate in formal financial transactions. According to the new proposals, non -filtering will be banned from buying vehicles or immovable properties, and will not be allowed to invest in mutual values or funds.
In a greater adjustment of financial regulations, a proposal has been submitted to prohibit non -filtering from opening bank accounts, a measure is expected to significantly affect undocumented financial activity.
The proposed measures, if implemented, would represent one of the most aggressive steps taken by the Government to force citizens to join the formal fiscal network and improve fiscal transparency.
