Siddiqsons Chairman Honored as 4th Highest Taxpayer

Siddiqsons Chairman Honored as 4th Highest Taxpayer

Prime Minister Shehbaz Sharif recently presided over a ceremony at the PM Office, where awards were conferred upon 65 leading exporters and compliant taxpayers. Among the distinguished recipients, Tariq Rafi, Chairman of Siddiqsons Group, was notably recognized as the 4th highest taxpayer by the Prime Minister.

Established in 1959, Siddiqsons Group has carved a niche for itself across diverse sectors including Textile & Denim Manufacturing, Real Estate & Construction, Tinplate Manufacturing & Tin-Can Packaging, and Dairy Industries, establishing a global footprint in the process.

The ceremony witnessed the presentation of approximately 40 awards to top exporters representing various sectors such as textiles, sports, surgical goods, pharmaceuticals, foods, and steel. Additionally, recognition was extended to taxpayers who significantly contributed through their income tax payments across different categories including companies, AOPs, and individual taxpayers.

The government’s acknowledgment also extended to Small and Medium Enterprises (SMEs) and first-time filers who made substantial contributions to the national treasury, with special incentives offered to those making significant tax payments.

The Prime Minister’s awards for compliant taxpayers and exporters showcased several noteworthy features, including recognition for top IT exporters, large exporters in sectors beyond textiles, first-time exporters with export values surpassing $10 million, exporters of non-traditional products, women exporters, and those demonstrating the highest growth compared to the previous year.

Compliant taxpayers were lauded based on various criteria such as the highest individual income taxpayers, AOPs and companies with the highest tax contributions, overall highest taxpayers, new taxpayers with substantial tax payments, business income taxpayers with significant growth, entrepreneur taxpayers, SMEs, taxpayers with substantial foreign direct investment (FDI), and entrepreneurs hailing from underdeveloped regions.

The ceremony not only served as a platform to honor exemplary contributors to the national exchequer but also underscored the government’s commitment to fostering an environment conducive to business growth and tax compliance. By recognizing and incentivizing taxpayers and exporters across diverse sectors, the government aims to stimulate economic activity, promote entrepreneurship, and bolster revenue generation for the country.

Tariq Rafi’s acknowledgment as the 4th highest taxpayer serves as a testament to Siddiqsons Group’s unwavering commitment to corporate citizenship and its significant contributions to Pakistan’s economic landscape. As the country moves forward on its path to prosperity, such recognition highlights the pivotal role played by private enterprises in driving sustainable growth and development.