Taxpayers who possess substantial assets such as houses, cars, flats and land are required to pay a surcharge. This initiative has primarily been undertaken to reduce inequality between the wealthy and the poor and to promote social equity.

For this purpose, the National Board of Revenue (NBR) determines the applicable surcharge rates. At the same time, the NBR has also specified the types and levels of assets that will attract a surcharge.

Let us now examine which assets are subject to surcharge and the applicable rates.