January 30, 2023

Pkrevenue.com

Pakistan Revenue

Tag: super tax

What is super tax and who are required to pay?
Nov 14
Definitions, Taxation

What is super tax and who are required to pay?

Super tax is a special levy that is imposed on certain classes of taxpayers on their income in Pakistan. The collection of super tax has been made under Income Tax Ordinance, 2001. Through Section 4B of the Income Tax Ordinance, 2001, super tax for rehabilitation of temporarily displaced persons was introduced through Finance Act, 2015. […]

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Super tax imposed only for one year: Miftah
Aug 10
Finance, Taxation

Super tax imposed only for one year: Miftah

KARACHI: Finance Minister Dr. Miftah Ismail has said that super tax at the rate of 10 per cent has been imposed only for one year. The minister said: “Fiscal discipline will be strictly followed and all additional expenditures will be fully funded by tax measures. The 10 percent Super Tax is only imposed for one […]

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FPCCI denounces super tax imposition
Jun 24
Taxation, Trade & Industry

FPCCI denounces super tax imposition

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has denounced the imposition of super tax by the government to generate additional revenue. FPCCI acting president Shabbir Mansha denounced imposition of 10 percent super tax on large industries; which already pay hefty corporate tax of 29 percent and generate millions of jobs in the […]

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Section 4B of Income Tax Ordinance, 2001: super tax
Jul 18
Taxation

Section 4B of Income Tax Ordinance, 2001: super tax

ISLAMABAD: The Section 4B of the Income Tax Ordinance, 2001 deals with super tax for rehabilitation of temporarily displaced persons. The Federal Board of Revenue (FBR) issued the updated Income Tax Ordinance, 2001. The Ordinance incorporated amendments brought through Finance Act, 2021. The Section 4B was introduced through Finance Act, 2015. Following is the text […]

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Super tax permanently imposed on banking companies
Jun 20
Taxation

Super tax permanently imposed on banking companies

ISLAMABAD: The levy of super tax has been permanently imposed on banking companies as it was expiring in the tax year 2021. Sources in the Federal Board of Revenue (FBR) said that the super tax was only imposed on banking companies while the other taxpayers were exempted from tax year 2020. The sources said that […]

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Super tax made permanent for banks
Feb 15
Taxation

Super tax made permanent for banks

ISLAMABAD: The levy of super tax has been made permanent for banking companies beyond Tax Year 2021, sources in Federal Board of Revenue (FBR) said on Monday. Tax Laws (Amendment) Ordinance, 2021 has been promulgated on February 12, 2021 after approval by the President of Pakistan. As per the ordinance the levy of super tax […]

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TAX YEAR 2021: rate of super tax
Oct 16
Taxation

TAX YEAR 2021: rate of super tax

ISLAMABAD: Federal Board of Revenue (FBR) has updated rate of super tax to be applicable for tax year 2021 (July 01, 2020 – June 30, 2021). The FBR issued Income Tax Ordinance, 2001 after incorporating amendment brought through Finance Act, 2020. The FBR issued the following updated rate of super tax: Provided that in case […]

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