Salaried class pays over Rs266 billion in income taxes

Salaried individuals paid Rs266 billion in income tax during the first half of the current fiscal year, contributing nearly one rupee out of every Rs10 collected in income taxes across the country. Tax contributions by salaried persons, in both the public and private sectors, remained more than double the taxes paid by the real estate sector during the same period, according to provisional figures compiled by the Federal Board of Revenue (FBR) for the July–December period. The statistics showed that salaried persons paid a little over Rs266 billion in income taxes, higher by Rs23 billion, or 9%, compared to the same period of the last fiscal year. The Rs266 billion income tax payments by salaried individuals were exclusive of book adjustments. In the last fiscal year, the income tax contribution, excluding book adjustments, stood at Rs243 billion.