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'Pakistan Honour Card Scheme' launched for top taxpayers

09:45 AM | 5 Apr, 2024
'Pakistan Honour Card Scheme' launched for top taxpayers

ISLAMABAD – The federal government has introduced the “Pakistan Honour Card Scheme” for the country's top taxpayers and income earners, as well as others from various categories, to boost morale and provide them with special incentives and facilities for Tax Year 2023.

Under the Pakistan Honour Card Scheme, the top taxpayers receiving awards from the Prime Minister at the Tax Excellence Awards ceremony held 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), individuals holding the Pakistan Honour Card under the scheme will be entitled to benefits and facilities for a period of one year from the date of card issuance.

The Pakistan Honour Card Scheme will apply to top taxpayers from every category receiving awards from the Prime Minister at the Tax Excellence Awards ceremony.

The notification specifies that under the scheme, 9 top income earners will be issued the Pakistan Honour Card, including two top exporters from each sector, such as chemical products, food products, leather, pharmaceutical machinery, and sports goods.

Additionally, the top earner in other sectors, including steel and metal products, paper and plastic, among others, will also be issued this card.

Furthermore, among the non-traditional and innovation-based earners, the top earners in aluminum and articles, spices, fish and crustaceans, and the top three earners in the information technology sector will be issued this card.

Similarly, the top two earners in the previous year and the top three earners among the new earners in each category will also be awarded this honour. The top three women earners among the top earners will also receive this award, along with the top 12 taxpayers in all taxes.

The FBR has stated that the top five companies in the category of the highest income taxpayers will issue the card to the top AOIs (Association of Persons) among them. The top five individual taxpayers will also be issued the Pakistan Honour Card, along with the top two new taxpayers in each category, according to the document.

Additionally, those top taxpayers who have no outstanding tax obligations will be eligible for the Pakistan Honour Card, as well as those for whom no tax demand case or adverse judgment is pending in any court, and no criminal proceedings are pending in any court.

Furthermore, it has been mentioned in the documents that top taxpayers and income earners holding the Pakistan Honour Card will be provided access to CIP and VIP lounges at all airports under the administration of the Pakistan Airports Authority. However, airline-operated lounges will not be included in this.

Fast-track clearance facilities will be provided at immigration counters, and government passports will be issued to holders of the Pakistan Honour Card. Similarly, invitations will be extended to the top taxpayers for an annual dinner with the Prime Minister.

It has been mentioned in the documents that the selection of top taxpayers in each category will be based on the information provided by Pakistan Revenue Automation Limited to the FBR with verification certificates.

Daily Pakistan Global Web Desk

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Pakistani rupee exchange rate to US dollar, Euro, Pound, Dirham, and Riyal - 18 May 2024 Forex Rates

Pakistani currency rates against US Dollar and other currencies on May 18, 2024 (Saturday) in open market.

USD to PKR rate today

US dollar was being quoted at 277.4 for buying and 280.35 for selling.

Euro stands at 297 for buying and 299.5 for selling while British Pound rate is 348.5 for buying, and 352 for selling.

UAE Dirham AED was at 75.25 and Saudi Riyal came down to 73.50.

Today’s currency exchange rates in Pakistan - 18 May 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 277.4 280.35
Euro EUR 297 299.5
UK Pound Sterling GBP 348.5 352
U.A.E Dirham AED 75.25 76
Saudi Riyal SAR 73.5 74.25
Australian Dollar AUD 181 183
Bahrain Dinar BHD 747.77 755.77
Canadian Dollar CAD 203 205
China Yuan CNY 38.49 38.89
Danish Krone DKK 40.25 40.65
Hong Kong Dollar HKD 35.96 36.31
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 913.28 922.28
Malaysian Ringgit MYR 58.69 59.29
New Zealand Dollar NZD 169.45 171.45
Norwegians Krone NOK 25.67 25.97
Omani Riyal OMR 730.59 738.59
Qatari Riyal QAR 76.41 77.11
Singapore Dollar SGD 203 205
Swedish Korona SEK 25.67 25.97
Swiss Franc CHF 309.01 311.51
Thai Bhat THB 7.57 7.72

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