Islamabad: The government has collected Rs 100 billion more in income tax during the first 7 months of the current fiscal.
According to details, Minister of State for Finance Ali Pervaiz Malik said on Wednesday that the government has collected Rs 100 billion more in tax on the income of the salaried class during the first 7 months of the current fiscal year compared to the first 7 months of the previous fiscal.
He was addressing a seminar on the topic of ease of doing business in Pakistan. He said that this is Rs 25 billion more than the government’s expectation, but the tax burden on the salaried class has become beyond its capacity, which is why the government will implement this tax on other sectors in the upcoming budget so that the salaried class can get relief.
He said that Prime Minister Shehbaz Sharif was not in favor of an additional Rs 75 billion tax on the salaried class, but it was inevitable to do so as per the agreement with the International Monetary Fund.
According to the data, in the first 7 months of the current fiscal year (July to January), the salaried class paid Rs 285 billion in tax revenue, while during the previous fiscal year, its volume was Rs 185 billion, which is 53 percent more.
It should be noted that during the previous fiscal year, the salaried class paid a total of Rs 368 billion in tax. Employees associated with the non-corporate sector paid Rs 122 billion in tax in 7 months, which is 41 percent more than the seven months of the previous fiscal year.
Similarly, employees associated with the corporate sector paid Rs 86 billion in tax during the same period, which is 50 percent more than the same period last year.
On the other hand, government employees associated with provincial governments paid Rs 48 billion in tax from their salaries, while during the previous period, its volume was Rs 23 billion.
Similarly, government employees have paid 96 percent more income tax this year, while federal employees paid Rs29 billion in income tax during these seven months, which was 63 percent more than the previous period when they paid Rs11 billion in tax.
