Pakistan has decided to trust the International Monetary Fund (IMF) on the rise in tensions with India.
According to sources, the Federal Board of Return (FBR) has also decided to hold interviews with the IMF concerning a possible reduction in the super tax.
This decision aims to prevent capital flight, as managers fear that the continuation of strong taxation is strengthening investments towards Dubai.
FBR sources have said that super tax cases worth 200 billion rupees are currently awaiting various courts.
In 2022, to protect the general public from taxation, the government imposed additional taxes on large industries. These included cement, steel, sugar, oil and gas, LNG terminal, fertilizers, banking services, textiles, automotive, chemicals, drinks and tobacco.
Currently, large -scale industries are subject to a super tax of 10% in addition to taxes on existing companies, which brings the overall tax rate of these sectors to 39%.
Pakistan’s tax ratio / GDP increased from 8.8% to 10.4%. The authorities aim to push further to 10.6% by June, with an 11% target set for the next financial year.
