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New tax rules restrict car, property and investment deals for non-filers

Editor Isb by Editor Isb
July 1, 2025
in National
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ISLAMABAD: A new set of tax rules has come into effect from July 1, 2025, under the Fifteenth Schedule of the Finance Bill. These rules impose restrictions on certain high-value financial transactions, particularly for individuals who are not on the active taxpayer list (non-filers), according to sources.

Key Restrictions:

Vehicle Purchases

Non-filers can only buy vehicles worth less than Rs7 million without needing a tax eligibility certificate.

For local cars, the invoice price applies.

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For imported cars, the customs value (including duties and taxes) will be used.
Impact: May lead to higher demand for used cars and slow down sales of new vehicles.

Property Transfers

Limits have been set for non-filers to buy or transfer properties:

Commercial properties: up to Rs100 million

Residential properties: up to Rs50 million
The fair market value, as defined by tax laws, will be used for such transactions.

Investment in Securities & Mutual Funds

Non-filers are restricted from making new investments above Rs50 million in securities and mutual funds.
(Reinvestments or profits from earlier investments are not affected.)

—— ALSO READ ——

Atlas Honda increases motorcycle prices in Pakistan from July 2025

Bank Account Rules

Non-filers face restrictions on opening or operating non-saving bank accounts. Additionally, there is an annual withdrawal limit of 100 million rupees across all accounts held by an individual.

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