FBR rules out mini-budget, announces crackdown on non-filers starting October 1

The Federal Board of Revenue (FBR) has announced that it will not introduce a mini-budget but will take strict action against non-filers starting October 1, reported 24NewsHD TV channel Wednesday.

The FBR aims to meet its financial targets for the first quarter of the fiscal year, with plans to collect over 2,600 billion rupees in taxes from July to September, including 1,200 billion rupees in September alone.

As part of its measures, the FBR will collect additional taxes of 50 billion rupees alongside income tax returns and will enforce sales tax collection from electricity and gas companies. The FBR is also offering retailers an opportunity to negotiate before tightening restrictions.

From October 1, non-filers will face severe restrictions, including being barred from purchasing property and vehicles, international travel, opening current accounts, and investing in mutual funds.