Salaried Class Paid 232% More Income Tax Than Exporters and Retailers Combined Last Year
In the fiscal year 2023-24, Pakistan’s salaried workers paid a record Rs368 billion in income tax, which is 232% more than the combined amount paid by exporters and retailers.
Despite this large contribution, the new budget introduced in July includes even higher tax rates and a 10% surcharge for top earners.
The Federal Board of Revenue (FBR) has reported a 39% increase in tax payments from salaried workers compared to the previous year, showing the growing financial strain on themThe Federal Board of Revenue (FBR) has reported a 39% increase in tax payments from salaried workers compared to the previous year, showing the growing financial strain on them.
These new tax measures have raised concerns among salaried workers, who are already contributing a significant portion of the national tax revenue. This situation highlights broader economic challenges and raises questions about the fairness of the tax system for salaried individuals.
