According to Pakistan’s “Express Tribune” a news agency on June 7th , citing government sources, the Pakistani government may increase the super tax of commercial banks by 3 percentage points to 7%, and pay more attention to the profits generated from loans to the government. Pakistan levied a one-time super tax of 4% and 3% on banks and individuals with annual income exceeding Rs 500 crore through the Finance Act of 2015, but it has been levied again every year since then.
Earlier, Pakistan’s Federal Revenue Board (FBR) and Prime Minister Shareef discussed a detailed plan to increase tax revenue by 4000-450 billion rupees to achieve the tax target of 7.2 trillion rupees ($36.4 billion) in the new fiscal year.
