Islamabad, Pakistan (Pakistan News )Chairman Federal Board of Revenue (FBR) Rashid Mahmood Langrial has said that Prime Minister Shehbaz Sharif has issued instructions to reduce tax rates on the salaried class.
While addressing a seminar of the Pakistan Business Council in Islamabad, FBR Chairman Rashid Mahmood Langrial said that the Prime Minister directed to reduce tax rates on the salaried class, after which regular work has been started for tax concessions to the salaried class in the budget of the next fiscal year.
Rashid Mahmood Langrial said that the Prime Minister has also directed to reduce super tax imposed on large companies, for which consultations have started at the government level for its implementation.
He said that the federal government is ready to reduce super tax on large companies and businesses in phases and finally abolish it.
He said that discussions will also be held with the International Monetary Fund (IMF) regarding the possible reduction and abolition of super tax. The aim of abolishing super tax is to promote investment in the country.
The Chairman FBR explained that the reduction in tax rates will directly depend on tax compliance and the increase in the number of taxpayers. The more the number of taxpayers in the country increases, the more the tax rate can be reduced.