Islamabad: Chairman Federal Board of Revenue (FBR) Rashid Mehmood Langriyal has said Prime Minister (PM) Shehbaz Sharif has issued directives to reduce rate of tax on salaried class.

Work has been started for providing tax relief to the salaried class in the budget for next financial year.

Addressing a seminar under Pakistan Business Council here he said PM has directed to curtail super tax imposed on larger companies. Consultations have been started at government level in connection with its implementation.

He held government is willing to reduce super tax on larger companies and business in phases and eventually to abolish it .

Talks will be held with IMF with reference to likely reduction and abolition of super tax. Abolishing the super tax is designed for promoting the investment in the country.

He clarified that reduction in tax will directly link to tax compliance and increase in number of tax payers.

Tax rate will be reduced as much as the number of tax payers rise.

The first phase in reduction in super tax is likely to start in the budget for the next financial year.