Salaried class pays more tax than wholesalers, retailers
- By Web Desk -
- Feb 13, 2025
ISLAMABAD: The salaried class has paid more income tax than wholesalers and retailers during the current fiscal year, ARY News reported on Thursday.
According to the latest numbers, the salaried class is bearing a much heavier tax burden compared to others.
During the first seven months of the current fiscal year, the salaried class paid Rs284 billion in income tax, compared to the Rs184 billion during the corresponding period of the last year, showing a significant increase of Rs99 billion.
In contrast, from July to January, wholesalers paid a mere Rs13.7 billion, while the retailers paid Rs19.4 billion in income tax.
Whereas, during the same period the tax collected on the sale and purchase of property is also substantial. Rs63.8 billion was collected on the sale of property and Rs65.7 tax on purchase, according to the documents.
Read More: FBR collects over Rs800 billion in tax by Jan 30
Earlier, the Federal Board of Revenue (FBR) has collected over Rs800 billion in tax by January 30, 2025, ARY News reported.
According to FBR officials, the revenue target for January 2025 was set at Rs956 billion. While the FBR is close to achieving its monthly target, officials are confident that the remaining amount will be collected soon.
The FBR has also set a revenue collection target of Rs 3150 billion for the period between January and March 2025. With economic activities expected to pick up pace in March, officials are optimistic that revenue collection will improve further.
In December 2024, the FBR achieved a record-breaking tax collection of Rs1330 billion, the highest ever in its history. During the first six months of the fiscal year, the FBR collected Rs5624 billion in tax revenue, with a shortfall of Rs384 billion.