Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial said the government intends to abolish the Super Tax entirely, signalling a major concession to the country’s business community.
Speaking during a visit to the Korangi Association of Trade and Industry (KATI) on Wednesday, Langrial said the Super Tax rate has already been reduced by 2 percentage points, with an aim at gradual elimination.
The announcement was welcomed by industrialists, who have long called the Super Tax an additional burden on an already heavily taxed sector.
Langrial also announced that an FBR office would be established at KATI to facilitate industrialists in the area. He said the scope of the FBR help desk would also be extended from Karachi to Sukkur, widening the tax authority’s outreach to taxpayers beyond the provincial capital.
FBR Promises Easier Import Procedures
The FBR chairman said the government would consult industrialists to simplify procedures for importing industrial raw materials. He also pledged to hold meetings to address cross border trade challenges faced by the leather industry.
Langrial added that a new model was being considered to improve the effectiveness of the Track and Trace system in the pharmaceutical sector. He urged the business community to cooperate with the government in tackling tax evasion.
Industrialists Demand Faster Tax Refunds
KATI President Sheikh Umer Rehan welcomed the FBR chairman’s monthly visits to Karachi and called for simpler procedures for importing industrial raw materials. He also highlighted billions of rupees in pending tax refunds, demanding that payments be released within the stipulated timeframe.
Industrialist leader Zubair Chhaya proposed appointing an FBR focal person at KATI to help businesses resolve tax related issues. He also called for reviewing unnecessary Statutory Regulatory Orders (SROs) and existing tax laws to reduce the burden on the business community.
Industrialists also called for introducing a one window operation to address business related requirements and improve coordination with government departments. They urged the government to broaden the tax base rather than impose additional financial burdens on existing taxpayers.
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