MTO Karachi Recovers Super Tax of Rs 607 Million from Maersk

MTO Karachi Recovers Super Tax of Rs 607 Million from Maersk

Karachi, May 23, 2024 – In a landmark fiscal achievement, the Medium Tax Office (MTO) Karachi has effectuated the recovery of a colossal sum of Rs 607 million in super tax from Maersk, the globally eminent shipping and logistics conglomerate.

The MTO Karachi, a pivotal arm of the Federal Board of Revenue (FBR) tasked with revenue collection, has demonstrated exceptional tenacity in this endeavor. The super tax recovery, executed by Zone-1 of the MTO Karachi, underscores the office’s rigorous and unwavering commitment to enforcing tax compliance among multinational corporations operating within Pakistan.

Sources within the MTO Karachi divulged that the substantial recovery was orchestrated under the aegis of Section 4C of the Income Tax Ordinance, 2001. Maersk, operating under the aegis of M/S MAERSK AS, was initially obdurate, contending that their obligations were mitigated under the provisions of a double taxation treaty. However, the persistent and meticulous efforts of the unit officer, buttressed by the sagacious guidance of the esteemed Chief Commissioner of MTO, culminated in Maersk’s acquiescence to their fiscal responsibilities.

The taxpayer’s recalcitrance was systematically dismantled through comprehensive due diligence and strategic legal acumen. The decisive intervention ensured that Maersk was apprised of its liabilities, leading to the eventual remittance of the super tax as per the directive issued by the competent authorities.

This exemplary feat is significantly attributed to Abdul Aleem Qureshi, Deputy Commissioner Inland Revenue (DCIR), whose indefatigable efforts and astute oversight were instrumental in securing this substantial recovery. Qureshi’s exceptional proficiency and unwavering dedication have garnered widespread commendation, reflecting the MTO’s capacity to navigate complex tax disputes and enforce compliance.

The recovery of Rs 607 million from Maersk not only augments the national exchequer but also serves as a deterrent to other corporations contemplating tax evasion. It accentuates the MTO Karachi’s unrelenting vigilance and the FBR’s overarching mandate to ensure equitable tax collection, thereby fortifying the fiscal framework of the nation.