Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial has stated that Prime Minister Shehbaz Sharif has directed a reduction in the tax rate for the salaried class.

Speaking at a seminar organized by the Pakistan Business Council in Islamabad, Langrial said that following the Prime Minister’s instructions, work has begun on providing tax relief to the salaried class in the upcoming fiscal year’s budget.

He added that the Prime Minister has also instructed a reduction in the super tax levied on large companies. Consultations have already begun at the government level to implement this directive.

Langrial further stated that the federal government is willing to gradually reduce and ultimately eliminate the super tax on major businesses and corporations in the future.

Regarding potential reductions or the removal of the super tax, he mentioned that discussions with international financial institutions, including the IMF, would also take place. The goal of ending the super tax is to encourage investment in the country.

The FBR Chairman clarified that any reduction in tax rates will directly depend on tax compliance and the increase in the number of taxpayers. The larger the taxpayer base, the more the tax rates can be lowered.