Islamabad:
Salaries have paid an amazing income tax of RS555 billion in the last fiscal year, which were RS188 billion more than the previous year and also 100% more than the combined taxes paid by retailers and the real estate sector.
The record contributions of people who pay the income tax of gross wages without having the luxury of adjusting their expenses, substantially reduced the salaries of taking houses in a larger segment of society.
According to the provisional figures compiled by the Federal Income Board, salaried persons paid RS555 billion in income tax during fiscal year 2024-25. The non -arranged contributions were 51% or RS188 billion more than the taxes raised by salaried persons in the previous fiscal year.
In fiscal year 2023-24, the Government had raised RS367 billion of salaries. The government of Prime Minister Shehbaz Sharif had phenomenally increased the tax burden of the salaried class and said that it would generate only RS75 billion in additional income taxes.
The highest contributions of salaried people in a single year showed how people without voice have been discriminated against the powerful sectors of the country.
Last month, the government marginally reduced the fiscal burden of people who earn to RS3.2 million annually, which said it would give them a benefit of RS56 billion. This nominal benefit of RS56 billion compared to current contributions is like a drop in the cube, which would not address the fiscal problems of salaried individuals.
Despite putting a huge load in the salaried class, the FBR lost its annual collection goal by a margin of around RS1.2 billion.
The details showed that the employees of the non -corporate sector paid RS236.5 billion income taxes in the last fiscal year, which is higher in RS67 billion or 40%. The employees of the corporate sector paid RS165 billion in Income Tax, also higher in RS54.6 billion or 49%.
The employees of the provincial governments paid RS99.5 billion in taxes, which increased by RS49 billion or 98%. Federal Government employees paid RS54.2 billion, higher in RS17 billion or 45%.
Total income tax payments during the last fiscal year were RS5.8 billion and the wage class paid RS1 of each RS10 raised from the entire country under the head of the Income Tax.
Unlike RS555 billion paid by salaried persons, retailers, mostly unregistered, have only contributed RS38 billion due to the income tax of their purchases. The amount of the tax that the merchants paid under section 236-H was 1,360% lower than the taxes paid by salaried persons.
In addition, wholesalers and distributors also paid RS25 billion to retain taxes in the last fiscal year and almost half of them were not registered with the FBR, the sources said.
Prime Minister Sharif could not fulfill his promise to collect due taxes of the retailers. The Tajir Dost scheme failed to produce the desired results and the government has not announced any new measure in the budget to take the retailers to the fiscal network.
Its greatest application measure to prohibit the economic transactions of non -eligible people has become effectively useless after the government exempt more than 90% transactions of the scope of the new law. The government has allowed people not eligible, those who do not have enough declared resources, buy up to RS7 million in a car, RS50 million worth plot and commercial properties of 100 million rupees.
In the budget, the Government had imposed the 2.5% retention of taxes on merchants, hoping that this forces them to enter the fiscal system. Although the increase in the rate helped to collect RS21 billion more of the merchants, the planned objective could not be achieved. The merchants transmitted the cost of the additional tax to the final consumers.
In the last budget, the Government had also substantially increased the tax burden of the real estate sector by increasing rates for non -filter and also introducing a new category of late files in the budget.
As a result, during the last fiscal year, the Government raised RS237 billion in sales and purchase of properties. This helped increase the collection by 19% compared to the previous fiscal year, but it was still below the brand.
Combined taxes paid by retailers and the real estate sector were 100% less than the total contributions of salaried persons.
For the sale of properties, the Government raised RS119 billion due to tax withholding, which were a quarter more than the previous fiscal year. In the purchases of the plots, the Government collected another 118 billion RS118, also higher by 14%.
In the new budget, the Government has abolished the Federal Special Tax on the Real Estate. Net taxes on sales and purchases remained unchanged, although the government changed a higher load towards sellers by increasing their tax rates.
