Salaried Class is Third-Largest Tax Contributor in Pakistan

Salaried class is third-largest tax contributor with a notable 40% rise in taxes receive from this group. Salaried individuals in Pakistan emerged as the third-largest source of tax income in the fiscal year 2023–2024.

Salaried class is third-largest taxpayer that is Rs368 billion to FBR. An increase of Rs103.74 billion over the previous year. According to FBR figures, tax revenue from salaried individuals increased by 39.3% annually.

Most of the revenue is generated from contracts, securities, and bank interest. For instance, the amount of taxes collected from contracts increased by more than Rs106 billion to Rs496 billion. Furthermore, bank interest and securities taxes increased by an astounding 52.8% to Rs489 billion.

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In addition to this, there were notable increases in taxes on other industries, including dividends, electricity bills, real estate transactions, phone bills, and the export sector. The nation’s total tax revenue increased as a result of these diverse sources.

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This increase in tax collection demonstrates the expanding role of paid workers in Pakistan’s economy as well as the larger initiative to raise tax receipts.

Strong revenue increases across a number of industries demonstrate how the tax system is growing and diversifying, both of which are essential for funding development initiatives and government services.

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