Siddiqsons Group chairman receives 4th ‘highest taxpayer award’

KARACHI: Prime Minister Shehbaz Sharif presented awards to 65 leading exporters and compliant taxpayers in a ceremony held at the PM Office. Among the recipients, Tariq Rafi, the Chairman of Siddiqsons Group, was recognised as the 4th highest taxpayer by the Prime Minister.

Established in 1959, Siddiqsons Group has excelled in various sectors including Textile & Denim Manufacturing, Real Estate & Construction, Tinplate Manufacturing & Tin-Can Packaging, and Dairy Industries, expanding its presence globally.

The ceremony saw the distribution of approximately 40 awards to top exporters in sectors like textiles, sports, surgical goods, pharmaceuticals, foods, and steel. Moreover, awards were presented to taxpayers who contributed significantly through their income tax payments in various categories such as companies, AOPs, and individual taxpayers.

The government also acknowledged Small and Medium Enterprises (SMEs) and first-time filers who made substantial contributions to the national treasury, offering special incentives to those who made significant tax payments.

Noteworthy features of the Prime Minister’s awards for compliant taxpayers and exporters included recognising (i) top IT exporters, (ii) large exporters in sectors other than textiles, (iii) first-time exporters with export values exceeding $10 million, (iv) exporters of non-traditional products, (v) women exporters, and (vi) those with the highest growth compared to the previous year.

Compliant taxpayers were acknowledged based on criteria such as (i) highest individual income taxpayers, (ii) AOPs and companies with the highest tax contributions, (iii) overall highest taxpayers, (iv) new taxpayers with substantial tax payments, (v) business income taxpayers with significant growth, (vi) entrepreneur taxpayers, (vii) SMEs, (viii) taxpayers with substantial foreign direct investment (FDI), and (ix) entrepreneurs from underdeveloped regions.

Copyright Business Recorder, 2024