- The Pakistani Federal Board of Revenue released a proposed tax amendment bill online on December 26
- The bill proposes changes to the Sales Tax Act including the introduction of an automated system to manage input tax adjustments
- New enforcement measures would include the ability to seal business premises, freeze bank accounts, and block property transfers for non-compliant taxpayers
- The Tax Agency could appoint auditors directly or through external parties to enforce tax laws
- The bill allows for the exchange of information between the Tax Agency and banks regarding high-risk taxpayers
- The proposed law is set to be implemented immediately upon approval
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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