Pakistan has decided to carry the International Monetary Fund (IMF) in confidence on the increase in tensions with India.
According to the sources, the Federal Income Board (FBR) has also resolved to have conversations with the IMF about a possible reduction in the super taxes.
The measure is intended to prevent the flight of the capital, since officials fear that high taxes will continue to boost the investment towards Dubai.
FBR sources said that super tax cases worth 200 billion are currently pending in several courts.
In 2022, to protect the general public from taxes, the Government imposed additional taxes to the main industries. These included cement, steel, sugar, oil and gas, LNG terminal, fertilizer, banking, textile, car, chemical sectors, drinks and tobacco.
Currently, large -scale industries are subject to super taxes of 10% in addition to existing corporate taxes, which carries the general tax rate of these sectors to 39%.
The relationship imposed on Pakistan’s GDP has increased from 8.8% to 10.4%. The authorities aim to bring this even more to 10.6% in June, with a 11% objective established for the next fiscal year.
