The Federal Board of Revenue (FBR) has offered major relief to the business community by agreeing to collect super tax arrears in installments, following strong criticism from senators over aggressive recovery practices.
FBR Chairman Rashid Mahmood Langrial said the total super tax liability stood at Rs. 217 billion, not Rs. 300 billion as widely reported. He assured the committee that businesses would not be shut down over the super tax and that FBR was open to collecting it in installments.
During the Senate Standing Committee on Finance meeting today, members complained that old taxpayers were being repeatedly harassed for forced recoveries of the super tax. One official mentioned that threats of account closure and arrests were creating panic in the market.
Separately, Finance Minister Muhammad Aurangzeb said sustainable tax-to-GDP growth was essential for economic stability and stressed that the super tax had no linkage with the International Monetary Fund’s loan program. He assured lawmakers that the committee would be consulted during the formulation of the next federal budget.
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FBR taxes 40% on anything bought from Chinese platforms despite no alternative provided
Disposal of gold is charged under income tax instead of capital tax , which makes absolutely no sense. Gold is an asset not an income.
Fbr is being used to wipe tax payer income. And still you failed