KARACHI (Web Desk) - Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial has said the government intends to completely abolish the super tax, adding that its rate was initially reduced by two percentage points and work has now begun on its gradual elimination.
Speaking at a meeting during his visit to the Korangi Association of Trade and Industry (KATI), Langrial said an office would be established at KATI to address tax-related issues faced by industrialists in Korangi Industrial Area. He said the FBR would consult stakeholders to resolve problems related to raw material imports.
He added that the FBR help desk would be expanded from Karachi to Sukkur.
Langrial said meetings would be held to address border-trade issues faced by the leather industry. He said the FBR’s Track and Trace System would be made operational for the pharmaceutical industry, following the Drug Regulatory Authority of Pakistan’s model, to improve tax administration and facilitate the business community.
He urged industrialists and traders to cooperate with the FBR in identifying and curbing tax evasion to make the tax system more transparent and effective.
The FBR chairman also heard concerns raised by industrialists from various sectors and issued instructions for their resolution.
Earlier, KATI President Sheikh Umar Rehan thanked Prime Minister Shehbaz Sharif for asking the FBR chairman to visit Karachi every month to improve the economy and address industrialists’ concerns. He said regular visits by federal ministers and cabinet members, following the FBR chief’s example, could help strengthen Pakistan’s economy.
Rehan said effective implementation of the FBR’s positive policies, faceless system and digitisation could significantly increase the tax base and revenue, while helping achieve the government’s Rs100 billion export target sooner.
He said special measures were also needed to resolve tax issues related to raw material exports and promote industrial and commercial activity.
Rehan identified lengthy delays in tax refunds as a major concern for industrialists, saying billions of rupees belonging to export-oriented industries and regular taxpayers remained held up with the FBR. He described the refunds as working capital for businesses.
He called for strict compliance with prescribed refund timelines, an effective system for automatic payment of verified refunds, and an end to withholding legitimate claims through unnecessary audits or documentation requirements.