Pakistan supreme court orders taxpayers to deposit 50pc super tax in seven days
Supreme Court of Pakistan (SCP) on Monday ordered the taxpayers to deposit their 50 per cent due super tax directly with the Federal Board of Revenue (FBR) within one week.
The apex court order came at a time when Pakistan tax authorities are negotiating with the visiting IMF team new taxation measures to check the widening fiscal gap in 2022-23, reports DAWN.
The FBR has projected Rs250bn from the imposition of the super tax in FY23.
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The final revenue measures are expected to be announced on 9 Feb when the IMF mission will complete its policy discussion and leave for Washington.
The FBR spokesman said that the parliament imposed a super tax on profits of wealthy corporations whose earnings exceeded Rs 150 million through the Finance Act 2022. The Honorable Lahore High Court stayed the imposition of this levy through an interim order.
"Today, on petitions filed by FBR, the Supreme Court directed that 50 per cent of the due liability be paid within 7 days," according to the spokesman, reports Pkrevenue.
The super tax has been imposed through Finance Act, 2022 by inserting Section 4C to the Income Tax Ordinance, 2001.
