Pakistan’s Salaried Class Paid Nearly Rs. 370 Billion in Taxes Last Year 

Pakistan’s Salaried Class Contributes Rs. 368 Billion in Taxes for FY24

According to the latest data released by the Federal Board of Revenue (FBR), Pakistan’s salaried class contributed Rs. 368 billion in taxes during the fiscal year 2023-24 (FY24). This marks a significant increase of nearly 40% compared to FY23, with an additional Rs. 103 billion collected in just one year.

Key Revenue Highlights

1. Contracts and Financial Instruments Lead Tax Collection
   • Contracts: Rs. 496 billion
   • Bank Interest & Securities: Rs. 489 billion
2. Growth in Dividend and Utility Taxes
   • Tax on Dividend Payments: Increased by 70% to Rs. 145 billion.
   • Tax on Electricity Bills: Grew by 30%, reaching Rs. 124 billion.
3. Property Sector Contributions
   • Tax on Property Purchases: Rs. 104 billion
   • Tax on Property Sales: Rs. 95 billion
4. Export Sector Taxation
   • Tax collection from exports stood at Rs. 94 billion.

This substantial growth in tax revenue reflects the increasing contributions from key sectors and highlights the salaried class’s pivotal role in strengthening Pakistan’s fiscal stability.