The federal government has introduced the Pakistan Honor Card Scheme for top taxpayers in the country, including large taxpayers and income earners from other categories. The scheme aims to boost morale of top taxpayers and provide them with special incentives and facilities for Tax Year 2023.
Under the Pakistan Honor Card Scheme, top taxpayers who receive awards from the Prime Minister at the Tax Excellence Awards ceremony on March 26, 2024, will be issued this card for a period of one year. According to the notification issued by the Federal Board of Revenue (FBR), top taxpayers holding the Pakistan Honor Card will be entitled to benefits and facilities for one year after the date of card issuance.
The scheme will be applicable to top taxpayers in various sectors, including chemical products, food products, leather, pharmaceuticals, machinery, and sports equipment. Additionally, top earners in the steel and metal products, paper and plastic industries, as well as other sectors, will also be issued this card.
Furthermore, individuals earning non-traditional and innovative income, such as aluminum and arts, spices, fish and crustaceans, and top earners in the information technology sector, will be eligible for the Pakistan Honor Card.
The selection of top taxpayers in each category for the Pakistan Honor Card will be based on the information provided to the Federal Revenue Automation Ltd. (FBR) by Pakistan Revenue Automation Ltd. (PRAL) along with verified certificates. The facilities and incentives provided to top taxpayers under the Pakistan Honor Card Scheme will be valid for one year from the date of card issuance.