PM Shehbaz to give awards to top taxpayers and exporters

ISLAMABAD: The federal government has announced plans to honour outstanding taxpayers and exporters with prestigious awards, according to official sources.

Prime Minister (PM) Shehbaz Sharif has granted approval for the formation of a four-member committee tasked with recommending deserving candidates for these commendations.

The committee will consist of the Deputy Chairman of the Planning Commission, the Chairman of the Federal Board of Revenue (FBR), and Additional Secretaries from the Ministries of Industries, Production, and Commerce.

With immediate effect, the committee has been mandated to identify and endorse compliant taxpayers and exporters who have received timely and legitimate refunds from the FBR.

Furthermore, the FBR will extend secretarial assistance to support the committee’s operations. Sources indicate that the committee aims to deliberate and finalise its recommendations within a stringent 24-hour timeframe.

The awards will recognise excellence in various categories, including top exporters in the information technology sector, large-scale exporters across different industries excluding textiles, first-time exporters with export values exceeding $10 million, exporters of non-traditional and innovative products, female exporters, those demonstrating the highest growth compared to the previous year, as well as compliant taxpayers.

Additionally, the awards will acknowledge individuals and entities contributing significantly to income tax payments, encompassing individuals, associations of persons (AOPs), and companies.

Other categories include top taxpayers across all tax types, new taxpayers with the highest tax contributions, business income taxpayers exhibiting maximum growth over the previous year, entrepreneurial taxpayers, small and medium enterprises (SMEs), taxpayers attracting the highest foreign direct investment (FDI), and entrepreneurs hailing from less developed and backward areas.

Sources reveal that the Prime Minister’s Secretariat has earmarked March 21, 2024, as the date for the award ceremony, during which the Prime Minister will present certificates to the recommended exporters.