FBR Plans Gradual Abolition of Super Tax, Chairman Rashid Langrial Says
Super Tax phase-out plans announced by FBR Chairman Rashid Mahmood Langrial at KATI.
Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial has said the government plans to abolish the super tax completely. He said the rate had initially been reduced by two percentage points, while work had now begun on a gradual phase-out.
Langrial made these remarks during a meeting at the Korangi Association of Trade and Industry (KATI). He also announced that the FBR would establish an office at KATI to address tax-related issues faced by industrialists in the Korangi Industrial Area.
Furthermore, the FBR will consult relevant stakeholders to address shortcomings in the import of raw materials. The board also plans to expand its help desk services beyond Karachi to Sukkur.
The FBR chairman said the board would hold meetings to resolve border trade issues affecting the leather industry. Meanwhile, he said the FBR would work with the pharmaceutical industry to make the track and trace system operational.
Under the proposed arrangement, the FBR will explore a model similar to the system used by the Drug Regulatory Authority of Pakistan (DRAP).
Ben Wang Reportedly in Talks to Play Iceman in Marvel’s Upcoming X-Men Film
Langrial said the FBR aims to improve tax administration while facilitating the business community. He also urged industrialists and traders to cooperate with the board in identifying and eliminating elements involved in tax evasion.
He said cooperation between businesses and the FBR would help make the tax system more transparent and effective.
