Save Our Pak
Islamabad: The Prime Minister has directed officials to reduce the tax rates for the salaried class, and work on lowering these taxes has already begun.
According to details, FBR Chairman Rashid Langrial, while speaking at a Pakistan Business Council seminar, said that Prime Minister Shehbaz Sharif has officially instructed that tax rates for salaried individuals should be reduced.
The FBR Chairman added that steps to lower taxes for salaried people are now being prepared for the upcoming budget.
Rashid Langrial also said that, under the Prime Minister’s instructions, work has started on reducing the super tax imposed on large companies. However, he explained that any reduction in tax rates will depend on better tax compliance.
He stated that the more taxpayers there are in the country, the easier it becomes to reduce overall tax rates.
FBR sources said that the super tax will be reduced in phases and eventually removed completely. They also mentioned that discussions with the IMF will be held regarding this matter.
Officials further added that the purpose of reducing and ending the super tax is to encourage more investment, and the first phase of this reduction is expected to be included in the next financial year’s budget.
Reported by Save Our Pak
