In the fiscal year 2023-24, Pakistan’s salaried workers paid a record amount of Rs368 billion in income tax, marking a significant increase. This amount is 232% more than what was paid by exporters and retailers combined.
Despite this substantial contribution from salaried workers, the new budget introduced in July includes even higher tax rates and a 10% surcharge for the highest earners.
The Federal Board of Revenue (FBR) has reported that this year’s tax payments from salaried workers have risen by 39% compared to the previous year. This significant increase highlights the growing financial burden on salaried individuals in the country.
The new tax measures have sparked concerns among these workers, as they face higher deductions from their earnings despite already contributing a substantial share of the national income tax revenue.
This situation reflects broader economic challenges and the government’s efforts to increase revenue, but it also raises questions about the fairness and sustainability of the tax system, especially for those in salaried positions.
