Who in Pakistan pays the highest taxes?

Who in Pakistan pays the highest taxes?

A day prior, Prime Minister Shehbaz Sharif had proclaimed the nation’s compliant taxpayers, which included traders and businesses, as its ambassadors and showered them with accolades for their beneficial contributions to Pakistan’s economy.

Additionally, he declared that the top taxpayers will receive honorary ambassadorships along with blue passports.

The News claimed on Wednesday that Pakistan’s top exporters and highest taxpayers are its heroes and role models, as stated by PM Shehbaz in remarks to guests at the Tax Excellence Awards 2024 in Islamabad.

The prime recognized Muslim Commercial Bank (MCB) Chairman Mian Muhammad Mansha as the top income tax payer in Pakistan, despite the fact that the list of compliant taxpayers who received trophies for their contributions was lengthy and segmented.

Mansha is one of the wealthiest and most prominent businesspeople in the nation, owning companies in a variety of sectors, including banking, textiles, and hotels. He is the founder and CEO of the worldwide conglomerate Nishat Group, which is headquartered in Lahore.

In 2004, he received the Sitara-e-Imtiaz (Star of Excellence), Pakistan’s most prestigious civic honor, in appreciation for his contributions to the country’s economic growth.

Rehan Sheikh of Standard Chartered Bank, Mohammad Ali of Habib Bank Limited, Arif Akmal Saifie of United Bank Limited, and Rehmat Ali Hassnie of National Bank of Pakistan were among the other businessmen who received awards for being the top income tax payers.

The following is a list of merchants and company owners who received rewards for their tax compliance.

Person Associations (AOPs)

Businessman Nazim Feroz is included in the AOPs category.

Individual payers

Umer Shakeel of Imtiaz Provision Store, Tarique Aziz Channa, proprietor of MBC and Sons Builders and Developers, Musadaq Zulqarnain, Chairman of Interloop Ltd., and Tariq Rafi, proprietor of Shamsi Associates, were honored in this category.

New tax payers

Tauseef Nawaz, managing partner of M/s Logisticsone, and Raheem Nawaz, managing partner of Fertlink International, are among the new taxpayers who paid the highest amount of tax.

SMEs

Muhammad Aslam, Rana Nadeem, CEO of Nadeem Rana Publisher, and Khalid Yousuf, owner/sole proprietor of Khalid Yousuf Modern Pain Industries, were honored in the last category of SMEs.

Exporters

In the awards presented to exporters, the premier honoured Shahzad Asghar Ali, CEO of Style Textile Pvt Ltd; Muhammad Maqsood, Group CFO/President of Interloop Limited; Mian Umer Mansha, CEO of Nishat Mills Ltd; Murtaza Ahmed, CEO of Artistic Milliners; Wasif Sattar, Director HR of Gul Ahmed; Zulfiqar Ali Khan of Yunus Textile; Hasan Saleem of Liberty Mills; and Ali Asrar Hussain Aga of US Apparel and Textiles. The sector-wise awardees include Asif Jooma, CEO of ICI, and Mujtaba, CEO of Archroma Pakistan Ltd in the chemical sector; Faisal Graib of Graibsons Pvt Ltd and Bilal Ismail Ahmed of Ismail Industries in the food products sector.

This list also included Chaudhry Saif Javed, Director of Service Global Footwear Limited, in the leather sector; Muhammad Mustafa Bin Talha, Director Operations of Pakistan Accumulators, in the machinery sector; Misbah Burney, Finance Director of Tetra Pak Ltd, in the paper and plastics sector; Khalid Mehmood, CEO of Getz Pharma Pvt Ltd, in the pharmaceutical sector; Muhammad Mansha of Forward Sports Pvt Ltd and Jarrar Hussain Awan of Awan Sports Industries in the sports sector; Mughal Steel in the steel and metal sector; and Ali Azfar Naqvi, Head of Commercial Operations of United Energy Pakistan Limited in the category of other exporters.

Non-traditional exporters

In the category of non-traditional exporters, the awardees included Syed Asad Hussain Zaidi, CFO of Pakistan Aluminum and Beverages; Jehanzaib Riaz, Director of Finance of Shan Foods Private; and Shahid Rathore, Managing Partner of Maritime Seafood.

Information technology exporters

For the top exporter of information technology, the winners were Asif Peer, Chief Executive of System Limited; Waseem Ahmed of Contour Software Pvt Ltd; and Abu Bakar Hanif of ABS Labs. Those with the highest growth include Naved Amer of Fine Textiles and Abdul Rehman of Ali Murtaza Associates.

First-time exporters awarded include Muhammad Abdullah, Director of M/s Hasan Rice Corporation (Pvt) Ltd; Mian Dad, Director of M D K Exports and Imports; and Mohsin Aziz, Principal Officer/Member of M/s Waqar Rice Mills (AOP). Women exporters recognised are Hira Butt, daughter of the taxpayer; Huma Arshad, owner of Huma Arshad AA Enterprises; and Salma Sultana, owner of Salma Sultana Babar Brothers.

All taxes

The highest taxpayers in the category of all taxes included Syed Taha, MD of Pakistan State Oil; Syed Ali Akbar, MD/CEO of Pakistan Tobacco Company (PTC); Ahmed Hayat Lak, Managing Director of OGDCL; Irteza Ali Qureshi, Managing Director of Pak-Arab Refinery Limited; Imran Abbasy, CEO of PPL; Ali Asghar Jamali, Indus Motors; Masood Nabi, Managing Director of Government Holdings (Private) Limited.

The list also recognised Khurram Shah, Director Public Policy of PEPSI-Cola International (Private) Limited; Syed Imran ALI Shah of Meezan Bank; Nauman Ahmed Usmani of National Refinery Limited; Faheem Haider, Managing Director of Mari Petroleum; and Syed Omar of Coca Cola.