Pakistan seeks IMF approval to cut super tax on Industries
Web Desk
12 May, 2025 19:48
IMF super tax cut
The federal government has approached the International Monetary Fund (IMF) to seek approval for reducing the super tax imposed on major industries, aiming to provide relief to traders and prevent capital flight.
According to senior officials from the Federal Board of Revenue (FBR), consultations with the IMF are underway. The super tax — introduced in 2022 — was initially levied on large-scale industries such as cement, steel, sugar, and oil & gas to avoid placing additional tax burdens on the general public.
Currently, industries falling under this bracket are taxed at a total rate of 39%, including a 10% super tax. Officials warn that if the super tax is not rolled back, investors may redirect their capital to more favorable business hubs like Dubai.
In parallel talks with the IMF, the government has also floated proposals for the 2025–26 federal budget, including a potential reduction of up to 10% in income tax rates for the salaried class. This measure, if approved, is expected to deliver Rs50 billion in tax relief.
Sources close to the matter say the IMF is reviewing these proposals in the context of Pakistan’s broader economic reform commitments.
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