Significant Increase in Tax Contributions
According to FBR documents, the salaried class paid PKR 368 billion in taxes during the fiscal year 2023-24, marking an increase of PKR 103.74 billion compared to the previous year. This represents a 39.3% rise in tax collection from this sector.
Top contributors in Tax payments
Contracts led the tax contributions with PKR 496 billion collected, showing an increase of over PKR 106 billion. Bank interest and securities contributed PKR 489 billion, with a 52.8% annual increase in tax from this category.
Dividends and Utility bills
Tax on dividends saw a 70% increase, accumulating PKR 145 billion. additionally, there was a 30% increase in tax collected from electricity bills, totaling PKR 124 billion.
Real Estate and Telecommunications
The real estate sector contributed PKR 104 billion from property purchases and PKR 95 billion from sales. Tax collection from telephone bills rose by 14.3%, reaching approximately PKR 100 billion.
Export and other Sectors
The export sector saw a 27.2% increase in tax contributions, totaling PKR 94 billion. Other taxable areas include technical fees, cash withdrawals, commissions, and retailers.