Karachi's Saddar market highest tax contributor in Pakistan

KARACHI: Saddar Market, the port city’s commercial hub, remained the highest contributor of taxes during the Tax Year 2018 with as many as 72,339 filers of tax returns.

According to the Federal Board of Revenue’s (FBR) Tax Directory for the year ending on June 30, 2018, the Saddar market paid a whopping Rs77.20 billion worth of taxes, followed by Islamabad’s Blue Area boasting 5,854 tax return filers who paid Rs39.93 billion during this period.

Lahore’s Multan Road market remained the third highest tax contributor in the TY 2018 with its 17,800 filers filing tax returns worth Rs11 billion, while 10,417 filers from Peshawar’s famous Karkhano Market paid a total of Rs5.27 billion taxes.

According to the FBR, Sindh remained the highest contributor of taxes (45 per cent) during the TY 2018, followed by Punjab that contributed 34.99 per cent in the tax collection during this period. The Capital Territory contributed 14.77 percent in the overall taxes of the FBR, Khyber-Pakhtunkhwa 3.54 percent, while Balochistan province contributed 1.67 per cent in income tax returns for the tax year 2018.