SHC declares super tax intra vires

KARACHI: An appellate bench of High Court of Sindh comprising Justice Aqeel Ahmed Abbassi and Justice Abdul Malik Gaddi declared super tax as intra vires of the Constitution of Pakistan 1973 while dismissing more than 200 constitutional petitions and equal number of suits. Super tax was imposed on income of… Continue reading

SHC hears petition against imposition of Super Tax

KARACHI: A specially constituted bench consisting of Justice Aqeel Ahmed Abbasi and Justice Abdul Malik Gaddi on Monday heard hundreds of identical petitions by different agencies, private companies etc challenging imposition of “Super Tax”. A battery of lawyers appeared for the petitioners and their main length of arguments was that… Continue reading

SHC to hear super tax case on March 7

KARACHI: An appellate bench of High Court of Sindh (SHC) comprising Justice Aqeel Ahmed Abbasi and Justice Abdul Malik Gaddi on Thursday heard a petition challenging vires of Finance Act imposing super tax. The tax was levied in the year 2016 on businesses etc having a turn-over of more than… Continue reading

Notice for “Super Tax” recovery suspended by SHC

KARACHI: Justice Yousuf Ali Saeed of High Court of Sindh suspended notices of recovery sent by Income Tax Department to plaintiff Tariq Rafi of Siddiq Sons. The plaintiff moved the court through Franklin Law Associates against issuance of notice of recovery sent under section 4 B of the Income Tax… Continue reading

PBA recommends tax reduction for banks to 30% and discontinuation of Super tax

KARACHI: A set of proposals for Federal Budget 2018-2019 concerning the banking sector has been forwarded to the FBR by Pakistan Banks’ Association (PBA). It has been recommended by the PBA that Section III (4) of Income Tax Ordinance 2001 be deleted and PERA (1992) be amended, by excluding all… Continue reading

Challenge to section 4B of Income Tax Act: Notices issued for Dec 19

KARACHI: Justice Muhammad Ali Mazhar of High Court of Sindh (SHC) on Thursday ordered issuance of notices to respondents in a fresh challenge to section 4B of the Income Tax Ordinance which imposes “Super Tax” on persons having income above 500 million. A counsel from Franklin Law Associates appearing for… Continue reading

Government continues super tax for another year

KARACHI: The government has decided to continue the super tax levied for another year, it was imposed in 2015-16 for the purpose of rehabilitating temporary displaced persons (TDP) affected by the Army’s operation against terrorists and anti-social elements. According to Finance Bill for the financial year 2017-18, Super Tax is… Continue reading