Rehabilitation of IDPs: FBR imposes 4pc super tax on local, international banks
Super tax was introduced in 2015.
ISLAMABAD (Dunya News)- Federal Board of Revenue has imposed 4pc super tax on income of all local and international banks, reported Roznama Dunya on Wednesday.
Tax collected would be used for rehabilitation of 5.2 million Internally Displaced People (IDPs) of Federal Administrated Tribal Areas.
As per details, FBR has also imposed 3pc super tax on income of private conglomerates while a notification in this regard has been released.
The FBR on Tuesday issued SRO 1173(I)/2017 to make amendment in Rule 7C of Seventh Schedule and added tax year 2017 for imposition of super tax to be paid by banking companies at the rate of 4 percent.
Super tax was introduced by federal government in 2015 with aim to collect funds for rehabilitation of IDPs.
