Islamabad: (Staff Reporter) Chief Justice of Pakistan Umar Ata Bandial remarked that economic situation of the country would improve if government takes steps to curb smuggling of foreign currency.
According to the source, the chief justice issued the remarks while hearing a plea filed by the Federal Board of Revenue (FBR) plea against a Lahore High Court (LHC) order which had stayed the recovery super tax from high-earning taxpayers.
As per details CJP Bandial highlighted that “$40 million” were smuggled from Pakistan on daily basis, saying: “We need to take organized measures against the menace”. He said everyone should improve itself in larger interest of the country. He also said Pakistan was not on the path of bankruptcy.
Furthermore during the hearing, the FBR lawyer Faisal Siddiqui said the LHC had issued the final verdict, suspending collection of super tax from companies for 60 days. Farogh Naseem, who represented companies in the case, said the FBR case had become ineffective after the LHC verdict and that the apex court could not issue an order for collection of 50 per cent super tax.
Moreover the CJP remarked that the tax collection body had approached the top court with good intentions. He adjourned the case till Feb 16 and decided to club all cases related to the super tax.
Earlier this week, the apex court modified an interim order of the LHC and directed wealthy taxpayers to pay their 50 per cent due super tax to the FBR within one week.
