- The PM Shehbaz Sharif is heading for a main recovery operation: Source.
- The Prime Minister personally allocates the funds to the legal representation of FBR.
- The FBR chief and the Governor of the SBP contribute to key change in the government’s strategy.
Islamabad: The Federal Board of Return (FBR) recovered 23 billion rupees from 16 major banks in one day on February 21, 2025, following a high Sindh courtyard (SHC), which maintains a tax on The fault.
An enlightened source said that the threat by Prime Minister Shehbaz Sharif, this major recovery operation was the result of teamwork in which the Governor of the State Bank of Pakistan (SBP) played an active role.
The Pakistan Attorney General, the President of the FBR and a dedicated legal team contributed to a decisive change in the government’s strategy to tax the elite and dismantle the rooted culture of the legal manipulation which has long protected powerful interests of companies, said the source.
The source informed that the amazing sum had been recovered on February 21, 2025, just a day after the Constitutional bench of the High Court of the Sindh ruled in favor of the government by rejecting the requests of the financial sector against the tax on the fault imposed under article 99D of the income tax order, 2001.
“For decades, individuals and the richest institutions in Pakistan have used their financial muscle to delay or avoid taxation through constitutional petitions, leaving the government other choice than to transfer the burden to the poor class and The middle class this time. Training of constitutional benches at the Supreme Court and all the high lessons, was the turn in accelerating the cases of crucial taxation.
“Previously, elite taxpayers have managed to block cases for years – sometimes decades – by exploiting legal shortcomings,” he said, adding: “With the new judicial structure in place, the courts accelerate Now business, guaranteeing the immediate completion of blocked income “.
Historically, it is explained that each time a tax has been imposed on companies of companies or ultra-rich, they hired the most expensive legal experts in Pakistan to challenge it to the court.
On the other hand, the FBR fought with limited budgets, hiring overloaded and underpaid lawyers which were not up to high-level lawyers. This imbalance has led to perpetual delays, forcing successive governments to increase indirect taxes, disproportionately affecting low -income groups.
“Determined to break this cycle, the Prime Minister has personally allocated the funds to ensure that the FBR ensures the best legal representation. Under its directives, the government does not only defend its tax measures – it actively monitors all major tax cases To avoid unnecessary delays “,” claimed the source.
It is explained that the fault on the fault under article 99D, introduced via the financing law 2023, allows the government to tax up to 50% of the unexpected excessive profits made by certain sectors due to economic anomalies.
“Between 2021 and 2023, the economy of Pakistan witnessed extreme instability. The Pakistani Roupiere depreciated strongly from RS168 by dollar in 2020 to RS286 in 2023, leading to artificial exchange demand. , a ratifying billions of profits, “said the source.
Seeing this as an unjust financial windfall, added the source, the government introduced the SRO 1588 (i) / 2023 on November 21, 2023, imposing a 40% tax on exchange revenues won by banks during the two years previous.
It is said that Manche Taxes are not a new concept and have been implemented in various countries, including the United States, the United Kingdom, Italy, Romania, Greece, Spain, Poland , etc.
With the success of the tax application. (CVT) On foreign assets, renowned income tax from unused real estate and inter-company dividends tax.
These measures, indicates the source, previously tangled in judicial affairs, are aggressively prosecuted under the directives of the Prime Minister. Additional legal resources are deployed to ensure that elite tax dodgers can no longer handle the system.
The success of the FBR to ensure 23 billion rupees with banks within 24 hours of a court decision is more than a simple budgetary victory – it is a paradigm change in the tax framework of Pakistan, said the source, Adding: “It is only the beginning. It is reiterated. To ensure that the taxation is fair and does not load the poor and the middle class disproportionately”.
“With an unshakable political will, a reworked legal approach and aggressive legal surveillance, the tax regime of Pakistan finally turns the wave against the capture of the elite. The message is clear: the days of tax evasion and tax evasion By legal manipulation are over “, the source is finished”, the source added.
Originally published in The news