FBR super tax: Exporters covered by abolition, Senate told
State Minister for Finance Bilal Azhar Kayani told the Senate that FBR super tax relief covers exporters and firms earning up to Rs500 million a year, while Customs reforms continue.
Super Tax abolition applies to exporters and to businesses whose annual income does not exceed Rs500 million, the state minister said.
Super Tax was cut from 10 to eight percent for businesses earning more than Rs500 million a year, and may be reduced further.
PM Shehbaz Sharif is focusing on FBR and Pakistan Customs reforms to curb corruption and digitise operations.
The Faceless Customs Assessment system has been introduced, and a task force has been set up at airports.
Customs received 114 complaints, with penalties in 45 cases; the IRS received 113, with penalties in nine.