High corporate tax rates – a barrier for multinationals
KARACHI: About 210 multinational corporations (MNCs) in Pakistan operating in sectors such as tobacco, oil, automobile, pharmaceuticals, banking and others contribute one-third of the total tax collection and contribute significantly to the national exchequer. They also reinvest in their respective units or inject funds into some new ones. In addition, they invest around Rs 13 billion annually in Corporate Social Responsibility (CSR) projects to ensure provision of facilities to around 30 to 40 million people in healthcare, education, infrastructure and community development. In line with Prime Minister Shehbaz Sharif’s aim to scale up foreign investment, MNCs have recommended that the
