ISLAMABAD: President Dr. Arif Alvi has promulgated a new ordinance giving the National Accountability Bureau (NAB) and National Database and Registration Authority (NADRA) access to the data of taxpayers.
Besides, the non-filers could also be deprived of banking facilities. The new law stipulates a punishment of one year imprisonment and Rs0.5 million fine for persons who provide wrong information to evade tax.
The ordinance empowers the anti-corruption watchdog to reopen two-decade old transactions. Moreover, it has also been given access to offshore tax data the Organisation for Economic Cooperation and Development (OECD) shares with Pakistan.
The government has imposed a 35% additional income tax on electricity bills of non-filer professionals. The ordinance is aimed to broaden the tax base of the country.