KARACHI: Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial has announced that the government plans to gradually eliminate the Super Tax. The tax rate has already been reduced by two percentage points, and efforts are underway for its complete abolishment. The chairman also stated that an FBR office would be established at the Korangi Association of Trade and Industry (KATI) to address tax-related issues faced by industrialists in the Korangi Industrial Area.

According to Korangi Association of Trade and Industry, the announcement was made during FBR Chairman Langrial's visit to KATI, where he emphasized the importance of improving the tax system and facilitating business operations. The chairman also mentioned that monthly visits to Karachi, as instructed by Prime Minister Shehbaz Sharif, are encouraging for industrialists. KATI President Sheikh Umer Rehan expressed gratitude for these visits and called for improved procedures for importing industrial raw materials.

During the meeting, various industry leaders, including KATI Deputy Patron-in-Chief Zubair Chhaya, urged the appointment of an FBR focal person at KATI and the introduction of one-window operations to streamline tax procedures and broaden the tax net. They emphasized the need for consultation with industrial associations before implementing new tax policies.

The FBR Chairman also addressed issues related to border trade in the leather industry and discussed implementing a model similar to the Drug Regulatory Authority of Pakistan for the pharmaceutical sector to enhance the Track and Trace System's effectiveness. He urged the business community to assist in identifying and eliminating tax evasion to make the tax system more transparent.

KATI President Rehan highlighted the significant delays in tax refunds as a major challenge and called for strengthening the automated system for refund disbursements. He also advocated for maximum automation of tax procedures to reduce unnecessary interactions and potential corruption.

KATI leaders, including Zubair Chhaya and others, stressed the importance of reviewing unnecessary statutory regulatory orders (SROs) that increase business costs and legal complexities. They urged the government to consult stakeholders before introducing any new tax-related policies.