Salaried Class have contributed 243% more in taxes as compared to exporters. From July to December 2023, the affluent class has accumulated Rs. 158 billion in taxes, whereas exporters have contributed Rs. 46 billion

Salaried Class have contributed 243% more in taxes as compared to exporters.

From July to December 2023, the affluent class has accumulated Rs. 158 billion in taxes, whereas exporters have contributed Rs. 46 billion.

Islamabad: The affluent class has outpaced wealthy exporters in paying taxes during the first six months of the current fiscal year. In this period, the affluent class has contributed Rs. 158 billion in taxes, showing a 38% increase compared to the same period of the previous fiscal year. This amount is 243% higher than the taxes paid by exporters.

 

On the other hand, exporters have earned Rs. 4.3 trillion during this period, contributing a mere 1% or Rs. 46 billion in taxes. This marks a 243% lower contribution compared to the affluent class, establishing them as the fourth major tax-paying class.


From July to December of the past year, the affluent class has witnessed a 38% increase in income tax collections, with Rs. 66 billion, or 42%, being paid by registered employees in the province of Sindh. It is anticipated that by the end of the current fiscal year, the affluent class will contribute over Rs. 300 billion in taxes.


It is noteworthy that out of the Rs. 158 billion collected, Rs. 66 billion (42%) is contributed by Sindh, with Karachi leading with Rs. 57 billion, constituting 36% of the total tax. Registered individuals in Punjab have contributed Rs. 59.4 billion, forming 38% of the total, with Rs. 33 billion collected from Lahore. Islamabad contributed Rs. 19 billion, Balochistan Rs. 4.2 billion, and Khyber Pakhtunkhwa Rs. 9 billion in tax revenue.

 

During the first six months, the Federal Board of Revenue (FBR) has collected Rs. 1.25 trillion in withholding tax, constituting 57% of the overall income tax. There is a 31% increase in tax collections from contractors and service providers, reaching up to Rs. 228 billion. The tax on interest income has seen a 58% increase, amounting to Rs. 220 billion. Importers have paid Rs. 189 billion in income tax.

 

Sindh contributed Rs. 66 billion, Punjab Rs. 59.4 billion, Islamabad Rs. 19 billion, Khyber Pakhtunkhwa Rs. 9 billion, and Balochistan Rs. 4.2 billion in tax revenue.


 Number of active taxpayers reaches 5.3m mark

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