The salaried class has become the third-largest contributor to Pakistan’s tax revenue, with a nearly 40% rise in tax collection during the fiscal year 2023-24. The Federal Board of Revenue (FBR) collected Rs368 billion from salaried individuals, an increase of Rs103.74 billion compared to the previous year.
Key Revenue Sources
FBR documents revealed a 39.3% year-on-year growth in tax revenue from salaried individuals. Contracts led revenue sources, contributing Rs496 billion, a rise of over Rs106 billion. Taxes on bank interest and securities followed, generating Rs489 billion, a 52.8% annual increase.
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Dividend taxes saw the highest growth, surging by 70% to Rs145 billion, while electricity bill taxes increased 30%, reaching Rs124 billion.
Property and Other Contributions
Property transactions also played a significant role. Taxes on purchases amounted to Rs104 billion, while sales taxes contributed Rs95 billion. Telephone bill taxes rose 14.3%, yielding Rs100 billion. The export sector added Rs94 billion, reflecting a 27.2% increase.
Other notable contributions came from technical fees, cash withdrawals, commissions, and retail purchases, showcasing the diverse sources fueling Pakistan’s tax revenue growth.
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