Islamabad, 12th August 2024 (TDI): According to a report by the Auditor General of Pakistan, the salaried class contributed a significant amount to the national exchequer in the fiscal year 2022-23. The report reveals that a whopping Rs 264 billion was collected in taxes from salaried individuals, marking a substantial increase from the previous year’s collection of Rs 189 billion.
The report highlights the growing tax burden on the salaried class, which is already struggling to make ends meet amidst rising inflation and economic uncertainty. The government’s reliance on direct taxes has resulted in an increased financial strain on this segment of the population.
The report also sheds light on tax collections from other sectors. The emerging property sector contributed Rs 85 billion in taxes, up from Rs 64 billion in the previous year. Meanwhile, the exports sector generated Rs 74 billion in taxes, compared to Rs 63 billion in the previous year.
Interestingly, the report reveals that banks’ profits were taxed at an impressive Rs 320 billion, a significant jump from Rs 155 billion in the previous year. This raises questions about the government’s tax policies and their impact on various sectors.
