Pakistan's salaried class pays more tax than retailers and exporters in first quarter

Pakistan's salaried class has paid PKR 111 billion in income tax during the first quarter of fiscal year 2024-25 (FY25), according to data from the Federal Board of Revenue (FBR) available with Nukta.

This is an increase of 56.3% compared to PKR 71 billion paid by salaried persons during the same period last year.

Meanwhile, retailers have paid PKR 6.7 billion during FY25's first quarter and exporters have paid PKR 40 billion in tax.

The government had imposed a 1% advance tax on exporters on the the realization of foreign exchange proceeds in this year's budget.

Sources said that the FBR, under section 153 of the Income Tax Ordinance 2001, has also collected PKR 84.2 billion from July to August this year on sales of goods, rendering of or providing of services or execution of contracts.

Separately, tax collection from bank interest and securities surged to PKR 91.1 billion, electricity bills PKR 29.4 billion, advance tax on purchase or transfer of immovable properties PKR 14.5 billion, income from property PKR 8.08 billion, advance tax on persons remitting amounts abroad PKR 3.2 billion and collection from commission remained at PKR 3.5 billion during the first two months of the current fiscal year.