Pakistani Salaried Class Pays Rs 285 Billion in Taxes in First 7 Months of Fiscal Year
Pakistan’s salaried class has paid a total of Rs 285 billion in income tax during the first seven months of the current fiscal year, marking an increase of Rs 100 billion compared to the previous year.
According to media reports, State Minister for Finance, Ali Pervez Malik, mentioned that a portion of this tax burden might be shifted to other sectors in the upcoming budget.
It is important to note that the government had imposed an additional Rs 75 billion tax burden on the salaried class last year to satisfy the International Monetary Fund (IMF). However, tax collections have already surpassed this amount.
The report highlights that employees in the non-corporate sector paid Rs 122 billion, employees in the corporate sector contributed Rs 86 billion, provincial government employees paid Rs 48 billion, and federal government employees contributed Rs 29 billion in taxes.
In addition, the government continues its efforts to collect taxes from wholesalers and traders, with success dependent on the on-source tax deduction from unregistered businesses.
