super tax Archives - Page 2 of 4

ATIR Rules Super Tax Not Payable on FTR Income

May 23, 2024May 23, 2024Shahnawaz Akhter

Karachi, May 23, 2024 — In a significant ruling, the Appellate Tribunal Inland Revenue (ATIR), Karachi, has determined that super tax is not applicable to income falling under the Final Tax Regime (FTR) for exporters.

FBR Updates Super Tax Rates for High-Earning Individuals

October 9, 2023October 9, 2023Shahnawaz Akhter

Karachi, October 9, 2023 – The Federal Board of Revenue (FBR) has introduced updated super tax rates for high-earning individuals for the tax year 2024.

Super Tax Implemented on Stock Investors by NCCPL

July 31, 2023July 31, 2023Shahnawaz Akhter

Karachi, July 31, 2023 – The National Clearing Company of Pakistan (NCCPL) has issued a notification regarding the collection of super tax from investors in the stock market.

Additional Income Slabs Introduced to Bring Uniformity in Super Tax

July 27, 2023July 27, 2023Shahnawaz Akhter

Karachi, July 27, 2023 – In a bid to promote progressivity and uniformity in the taxation system, the Federal Board of Revenue (FBR) has introduced additional income slabs for the Super Tax, as outlined in Circular No. 2 of Income Tax dated July 26, 2023.

Progressive Rates of Super Tax with Increased Threshold Implemented from July 2023

July 2, 2023July 2, 2023Shahnawaz Akhter

Karachi, July 2, 2023: The Finance Act, 2023 has introduced progressive rates of Super Tax with an enhanced threshold, bringing changes to the existing super tax rates previously enacted for the tax year 2022. These new rates will apply from the tax year 2023 and onwards.

Higher Rate of Super Tax Extended to All Taxpayers

June 11, 2023June 11, 2023Faisal Shahnawaz

The higher rate of super tax, originally introduced in the Finance Act 2022, has now been extended to encompass all taxpayers across various sectors, according to the newly proposed Finance Bill of 2023.

NCCPL Authorized to Collect Super Tax on Capital Gains

June 10, 2023June 10, 2023Faisal Shahnawaz

In a significant development, the National Clearing Company of Pakistan Limited (NCCPL) has been granted the authority to collect super tax on capital gains.

Finance Bill 2023 Introduces New Tax Slabs for Super Tax

June 10, 2023June 10, 2023Faisal Shahnawaz

Islamabad, June 10, 2023: The recently introduced Finance Bill, 2023 has brought forth new tax slabs for the super tax applicable for various tax years. The rates mentioned below are applicable for tax year 2022 and onwards:

PBC terms super tax as penalty on documented sector

May 11, 2023May 11, 2023Faisal Shahnawaz

The Pakistan Business Council (PBC) has expressed its dissatisfaction with the imposition of super tax on corporate profits, describing it as a penalty on the documented sector.

Supreme Court orders taxpayers to pay half of super tax

February 6, 2023February 6, 2023Mrs. Anjum Shahnawaz

ISLAMABAD: Supreme Court of Pakistan (SCP) on Monday ordered the taxpayers to pay half of the super tax within seven days, according to a Tweet by the Federal Board of Revenue (FBRP).

Tag: super tax