PM Orders Reduction in Tax Rate for Salaried Class

Islamabad (Qudrat Daily) — Chairman Federal Board of Revenue (FBR) Rashid Mahmood Langrial has announced that Prime Minister Shehbaz Sharif has issued directives to reduce the tax rate for the salaried class.

Speaking at a seminar organized by the Pakistan Business Council in Islamabad, Langrial said that following the prime minister’s instructions, work has formally begun to provide tax relief to salaried individuals in the upcoming fiscal year’s budget.

He added that the prime minister has also directed a reduction in the super tax imposed on large corporations. Consultations at the government level have already begun to implement this directive.

The FBR chairman stated that the federal government is willing to gradually reduce and ultimately eliminate the super tax on major companies and businesses. Discussions with the International Monetary Fund (IMF) will also be held regarding the potential reduction and removal of the super tax.

Langrial clarified that any reduction in tax rates would depend directly on improved tax compliance and an increase in the number of taxpayers. “The more people enter the tax net, the more we can lower the tax rate,” he said.