Super tax to be abolished: FBR chief

KARACHI:

Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial has said the government intends to completely abolish the super tax. Initially, its rate was reduced by two percentage points, and work has now begun on phasing it out gradually.

He stated this while addressing a meeting during his visit to the Korangi Association of Trade and Industry (KATI). He announced that an office would be established at KATI to address tax-related issues faced by industrialists in the Korangi Industrial Area.

The FBR will consult stakeholders to remove shortcomings in the import of raw materials. The scope of the FBR help desk will also be expanded from Karachi to Sukkur.

Langrial said meetings would be held to resolve border trade-related problems faced by the leather industry. To make the track and trace system operational, the FBR will work with the pharmaceutical industry to implement a model similar to that of the Drug Regulatory Authority of Pakistan (DRAP).

He said the FBR's objective was to improve the tax system and facilitate the business community. He urged industrialists and traders to cooperate with the FBR in identifying and eliminating elements involved in tax evasion so that the tax system could be made more transparent and effective.