Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial announced that the government intends to completely abolish the super tax. Speaking during a meeting at the Korangi Association of Trade and Industry (KATI), Langrial noted that the tax rate was initially reduced by two percentage points, and work has now commenced on phasing it out gradually.
Langrial stated that an office would be established at KATI to handle tax-related issues for industrialists in the Korangi Industrial Area. The FBR plans to consult with stakeholders to fix shortcomings regarding the import of raw materials. Additionally, the FBR will expand the scope of its help desk from Karachi to Sukkur.
To address specific industry concerns, Langrial said meetings would be held to resolve border trade-related problems for the leather industry. Furthermore, the FBR will collaborate with the pharmaceutical industry to make the track and trace system operational, using a model similar to that of the Drug Regulatory Authority of Pakistan (DRAP).
The FBR chairman stated that the organization's objective is to improve the tax system and facilitate the business community. He urged traders and industrialists to cooperate with the FBR to identify and eliminate elements involved in tax evasion to make the tax system more transparent and effective.
