FBR Chairman Langrial hints at scrapping super tax
KARACHI: Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial said the government intends to abolish the super tax. “The super tax rate has already been reduced by two percentage points, and work has now begun on its gradual elimination,” he said while addressing the members of the Korangi Association of Trade and Industry (Kati) on Wednesday. The FBR aims to improve the tax system and…
Karachi witnessed a significant announcement by the Federal Board of Revenue (FBR) Chairman, Rashid Mahmood Langrial, who hinted at scrapping the super tax. During a meeting with members of the Korangi Association of Trade and Industry (Kati), Langrial revealed that the government has already reduced the super tax rate by two percentage points and plans to gradually eliminate it.
The FBR's primary goal is to enhance the tax system and support the business community. To this end, the FBR intends to establish an office in Kati to tackle tax-related problems faced by industrialists in the Korangi Industrial Area. Additionally, discussions are underway to consult relevant stakeholders regarding the shortcomings in the raw material import system.
The FBR's help desk will expand its reach from Karachi to Sukkur, as per Kati's press release. Furthermore, Langrial mentioned that meetings will be held to address border trade-related issues faced by the leather industry, similar to the approach taken by the Drug Regulatory Authority of Pakistan (DRAP) for the pharmaceutical industry.
Langrial emphasized the importance of cooperation between industrialists and the business community to identify and eliminate tax evasion, ultimately leading to a more transparent and effective tax system.
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