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Supreme Court Imposes 50% Super Tax on High-Income Earners

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BNN Correspondents
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In a recent development, the Supreme Court has passed an order imposing a 50% super tax on taxpayers with an income of more than 15 crore rupees. The case was heard by a two-member bench, headed by Chief Justice Omar Atta Bandial.

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During the hearing, the lawyer of the Federal Board of Revenue (FBR) informed the court that the super tax has been imposed on high-income earners by inserting a new section in the Income Tax Ordinance. The court directed taxpayers with excess income to submit the FBR super tax within fourteen days.

The Chief Justice remarked that the FBR should strive to develop a trusting and loving relationship with taxpayers. He emphasized that if the FBR wishes to increase the scope of tax, it must first win the trust of taxpayers.

The decision to impose a super tax on high-income earners has been hailed by many as a necessary step towards promoting greater income equality. However, some critics argue that the move may discourage investment and stifle economic growth.

Nonetheless, the Supreme Court's decision is expected to have far-reaching implications for taxpayers across the country. It remains to be seen how the FBR will respond to the Chief Justice's call for building a more trusting relationship with taxpayers.

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