Former federal minister Gohar Ejaz has said that Pakistan has become one of the highest corporate tax burdens in the region, reported 24NewsHD TV channel.
In a post uploaded on X platform on Monday, Gohar Ejaz said “Pakistan currently has one of the highest corporate tax burdens in the region — a 29% corporate tax rate, plus a 10% super tax, a 2% Workers Welfare Fund, and a 5% Workers Participation Fund.”
The former minister said “In addition, dividends are taxed at 15%, effectively resulting in double taxation, alongside further add-ons such as advance withholding, sales tax, excise duties, and other levies.”
Gohar Ejaz said “As a result, Pakistan now ranks among the lowest in terms of state competitiveness globally. We have taken the wrong path to increasing tax revenue by pushing tax rates above 50%, which has effectively choked the entire economy. The government can achieve sustainable growth, industrialization, investment, and maximum long-term tax collection only by reducing the maximum tax rate to 20%.”
Reporter Waqas Azeem