Islamabad: The Pakistani Business Council (PBC) suggested that the government has gradually circulated on the super -tax by 2 % annually until it is completely removed for unacceptable profits. Business budget proposals include measures aimed at reducing tax burdens and enhancing economic growth, especially in manufacturing, agriculture and services sectors.
PBC recommended that the super-tax derivative of exports in 2025-26 will decrease, with complete removal within three years. Meanwhile, the high tax must be applied gradually, based on profit panels, with inflation adjustments.
The Council also suggested that the companies listed in the minimum list by 25 % per year are eligible to reduce 1 % in the corporate tax rate. In addition, PBC suggested that the official sector responsibility be limited to verifying tax accreditation data on suppliers and clients registered directly in the Federal Revenue Council (FBR), as it is presented to the FBR portal.
As part of its recommendations, PBC called for a 39 % prior tax on electricity and gas bills for commercial and industrial customers who do not make tax decisions. After a certain period, the utility connections must be separated.
The Business Council has also advised that the tax rate of the official corporate sector be reduced by 1 % annually until it reaches 25 %, consisting of tax rates in other emerging economies. It also urged PBC to stop imposing multiple taxes on profits between companies to encourage growth in the capital market and expand the contribution.
To support the formal nature of the economy and combating brain migration, PBC suggested reducing the tax burden to employees with wages. He stressed the need to revive the main sectors such as manufacturing, agriculture and services.
In addition, PBC called for the removal of banks on banks that fail to achieve a 50 % progress rate to discovery (ADR), saying that the current policy fails to expand lending to the private sector. The Council also criticized the imposition of capitalist value tax on external assets, noting that it results in the minimum tax revenue, while causing the wealthy individuals. PBC also expressed its concerns about imposing taxes on cellular and fixed internet connection, on the pretext that it impedes the growth of the knowledge economy.
These proposals reflect the broader goal of PBC of enhancing investment and creating a more sustainable economic environment.
