Monitoring Desk
ISLAMABAD: The Supreme Court of Pakistan has directed the sectors/industries earning income above 300 million rupees – which are liable to pay 10% super tax for the Tax Year 2022 – to deposit the same within 1 week, at the rate of 4%.
In cases where a bank guarantee was brought before the High Court, the same will be en-cashed to the extent of 4% by the Federal Board of Revenue (FBR).
Tax case
In this regard, the apex court issued a judgement in the case of super tax dated 16 February 2023. The sectors/ industries are automobiles, beverages, airlines, cement, cigarette and tobacco, fertiliser, chemicals, iron and steel, LNG terminal, oil marketing, pharmaceuticals, sugar, oil refining, petroleum and gas exploration and production, and textiles.
