Aaj TV English News - Pakistan https://english.aaj.tv/ Aaj TV English en-Us Copyright 2026 Fri, 24 Apr 2026 02:46:12 +0500 Fri, 24 Apr 2026 02:46:12 +0500 60 Supreme Court okays 4% super tax for all industries https://english.aaj.tv/news/30312482/supreme-court-okays-4-super-tax-for-all-industries <p><strong>In a major relief for the government’s revenue collection efforts, the Supreme Court allowed a 4% super-tax on all industries on Thursday, overturning an old court judgement.</strong></p> <p>Sindh High Court had overturned the tax which had originally been introduced in the 2022 budget.</p> <p>Also dubbed a ‘poverty alleviation tax’, the tax was levied at 4% on all industries but 10% on thirteen selected industries. It was supposed to be a one-time tax only.</p> <p>Miftah Ismail, who was finance minister at the time, had clarified how the taxes would work in a tweet.</p> <p> <figure class='media w-full w-full media--stretch media--uneven media--stretch'> <div class='media__item media__item--twitter '><span> <blockquote class="twitter-tweet" lang="en"> <a href="https://twitter.com/MiftahIsmail/status/1540253563288682496"></a> </blockquote> </span></div> </figure></p> <p>“This is a one-time tax needed to curtail the previous four record budget deficits,” Miftah had said.</p> <p>However, in Thursday’s judgement the court told ‘all parties’ to pay a 4% tax.</p> <p>The thirteen industries that were originally subjected to a 10% tax instead of 4% included:</p> <ul> <li>cement</li> <li>steel</li> <li>sugar</li> <li>oil and gas</li> <li>fertiliser</li> <li>LNG</li> <li>textile</li> <li>banks</li> <li>automobile</li> <li>beverages</li> <li>chemicals</li> <li>tobacco sectors</li> </ul> <p>Industries in Pakistan already pay 29% tax, and this one time tax was an addition on top of it.</p> <p>The relief for the govt comes a day after it introduced a mini-budget to raise Rs170 bn in revenue to fulfill IMF’s conditions.</p> In a major relief for the government’s revenue collection efforts, the Supreme Court allowed a 4% super-tax on all industries on Thursday, overturning an old court judgement.

Sindh High Court had overturned the tax which had originally been introduced in the 2022 budget.

Also dubbed a ‘poverty alleviation tax’, the tax was levied at 4% on all industries but 10% on thirteen selected industries. It was supposed to be a one-time tax only.

Miftah Ismail, who was finance minister at the time, had clarified how the taxes would work in a tweet.

“This is a one-time tax needed to curtail the previous four record budget deficits,” Miftah had said.

However, in Thursday’s judgement the court told ‘all parties’ to pay a 4% tax.

The thirteen industries that were originally subjected to a 10% tax instead of 4% included:

  • cement
  • steel
  • sugar
  • oil and gas
  • fertiliser
  • LNG
  • textile
  • banks
  • automobile
  • beverages
  • chemicals
  • tobacco sectors

Industries in Pakistan already pay 29% tax, and this one time tax was an addition on top of it.

The relief for the govt comes a day after it introduced a mini-budget to raise Rs170 bn in revenue to fulfill IMF’s conditions.

]]> Pakistan https://english.aaj.tv/news/30312482 Thu, 16 Feb 2023 13:32:03 +0500 none@none.com (Afzal Javed) File photo.