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ISLAMABAD, Jan 22 (APP):Federal Constitutional Court of Pakistan (FCCP) has adjourned the hearing of a key constitutional case related to the super tax until Friday, January 23.
The case was heard on Thursday by a three-member bench headed by Chief Justice Ameen-ud-Din Khan, with Justice Hasan Azhar Rizvi and Justice Syed Arshad Hussain Shah also on the bench.
During the proceedings, counsel for Fauji Fertilizer and other companies, Jamal Ahmed Sukhera, concluded his arguments. He contended that under the Constitution, formal approval by the federation is required before a Finance Act is presented in Parliament.
The lawyer urged the court to declare Section 4C of the Finance Act related to the super tax unlawful and void.
Chief Justice Ameen-ud-Din Khan inquired about the current tax burden on companies, to which the counsel responded that companies are presently paying an overall tax rate of approximately 40 percent. He further argued that tax collection typically begins at the start of the fiscal year rather than at its conclusion, and noted that while taxes are generally imposed only on income exceeding a set threshold, in the case of the super tax, exceeding the limit even by one rupee results in the entire amount being taxed.
The court was informed that counsel for various companies, Shahzad Ilahi, will present arguments at the next hearing, while counsel for the Federal Board of Revenue, Asma Hamid, is also scheduled to argue the case on Friday.
Following the proceedings, the court adjourned further hearing of the case until January 23.