The federal government is likely to impose additional tax burdens on salaried individuals, with total tax collection from this segment expected to reach PKR 570 billion in the 2024-25 fiscal year, a 55% increase from the previous year.
According to the Federal Board of Revenue (FBR), salaried individuals contributed PKR 368 billion in taxes last year. In the first six months of the current fiscal year, PKR 243 billion has already been collected.
The report highlights a sharp increase in tax contributions by salaried workers, with 300% more tax collected in the first half of this fiscal year compared to the same period last year.
Five years ago, annual tax collection from salaried individuals stood at PKR 129 billion. Over time, this figure has steadily risen:
- 2019-20: PKR 129 billion
- 2020-21: PKR 152 billion
- 2021-22: PKR 189 billion
- 2022-23: PKR 264 billion
With these rising figures, the salaried class has now become the third-largest taxpaying segment in the country, the report states.
The potential increase in taxation is expected to fuel concerns among salaried workers already struggling with rising inflation and economic challenges.
