Excellence Award: FBR announces privileges, concessions for top taxpayers

ISLAMABAD: The Federal Board of Revenue (FBR) has announced privileges/concessions for the top taxpayers, who received awards from the Prime Minister during last ‘Tax Excellence Award’ ceremony.

The FBR has issued an S.R.O. 469 (l)2024 to notify “Pakistan Honour Card” scheme for Tax Year 2023 on Thursday. The top exporters and others qualifying under the Scheme shall be issued Pakistan Honour Cards. The holder of the card shall be entitled to and enjoy the following privileges:-

Top taxpayers: Pakistan Honour Card Scheme to be announced

(i) The facilities and privileges as are provided at the CIP/VP lounges of airports managed by the Pakistan Airports Authority excluding lounges managed and maintained by Airlines for their passengers.

(ii) Fast track clearance at immigration counters.

(iii) Issuance of official passport.

(iv) Invitation for Annual dinner by the Prime Minister.

According to the Pakistan Honour Card scheme, the scheme applies to top taxpayers falling under each category specified and were recipients of awards by the Prime Minister of Pakistan on March 26,2024 in the ‘Tax Excellence Award’ ceremony.

A taxpayer is entitled for the card, only if the taxpayer falls within any category specified; tax on the basis of the return or statement of final taxation has been fully paid; no arrear or current demand is outstanding against the individual, the AOP, or the company, as the case may be, unless the said demand is disputed in any court or stayed by any court and no criminal proceedings are pending in any court.

The categories of taxpayers, entitled under the scheme included leading exporters (top nine). The sector wise exporters included chemical products (top two); food products (top two); leather (top two); machinery (top two); paper & Plastic (highest); pharmaceuticals (top two); sports goods (top two); steel & metal products (highest) and other exporters (highest). The exporters of non-traditional and innovative products included aluminum & Articles (highest); spices (highest); fish & crustaceans (highest); information Technology (top three) and exporters with highest growth over last year (top two); first time Exporters (top three); women exporters (top three); highest taxpayers in all taxes (top twelve).

Other categories of taxpayers, entitled under the scheme included highest taxpayers of income tax; companies (top five); association of Persons (AOPs) (highest); individuals (top five); new taxpayers with highest tax paid (top two); and small and Medium Enterprises (SMEs) (top three).

Copyright Business Recorder, 2024