ISLAMABAD: Finance Minister Muhammad Aurangzeb has indicated that Pakistan is working towards the gradual abolition of the super tax, reaffirming that efforts to remove it will continue each year.
During a meeting of the Senate Standing Committee on Finance, the minister stated that the government’s policy direction is clear: to eventually eliminate the super tax while maintaining fiscal stability. He added that work on reducing its impact would remain ongoing in the coming fiscal cycles.
The committee also heard a proposal from Senator Abdul Qadir suggesting that the exemption threshold for the super tax be raised from Rs50 crore to Rs1 billion.
In response, the Chairman of the Federal Board of Revenue (FBR) noted that increasing the threshold to Rs1 billion would require approximately Rs250 billion in additional tax measures to balance revenue losses.
