FBR Makes Major Decision on Purchase of Bikes, Rickshaws and 800cc Cars by Non-Filers 

The National Assembly’s Standing Committee on Finance and Revenue Tuesday approved the proposal to allow non-filers to purchase motorcycles, rickshaws, cars up to 800cc and tractors.  The committee also approved a number of other proposals for the Tax Laws (Amendment) Bill 2024. Under another approved proposal, banks will have to report transactions of businesses and Association of Persons that are more than declared income in tax returns.   The Federal Board of Revenue (FBR) has also decided to install point of sales at all hotels in the federal capital. The committee also approved a proposal to appoint new auditors and experts in FBR.  During the meeting, FBR Chairman Rashid Mahmood Langrial also assured that there will be no tax increase on vehicles up to 800cc.