Tag: tax directory

ISLAMABAD: The Federal Board of Revenue (FBR) has published a comprehensive directory detailing the tax contributions of major cities across Pakistan for the tax year 2018 contributing above Rs1 billion. This directory provides valuable insights into the fiscal landscape of the country, highlighting the significant contributions made by urban centers to the national exchequer.

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The Federal Board of Revenue (FBR) has revealed that a staggering 71 percent of corporate return-filing entities declared annual income of less than Rs500,000 for tax year 2018. This alarming figure points to a serious compliance and revenue generation gap within Pakistan’s corporate sector.

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ISLAMABAD – The Federal Board of Revenue (FBR) has published its analysis of income tax returns for the tax year 2018, shedding light on the categories of taxpayers and their income brackets. The report reveals that the largest number of tax returns were submitted by individuals whose income fell below the taxable threshold.

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ISLAMABAD: Salaried persons have shared 42.12 percent of total income tax return filing with the Federal Board of Revenue (FBR), and they are second largest contributors in return filing after non-salaried individuals.

According to a directory for tax year 2018 issued by the FBR a day earlier showed that the salaried persons filed 1.2 million income tax returns for the tax year ending June 30, 2018.

The filing of the tax return by the salaried persons is 42.12 percent out of total returns 2.85 million filed for the tax year.

Non-salaried individuals are the top contributors in return filing for the tax year under review. The non-salaried individuals filed 1.52 million income tax returns, which was 54 percent of total return filing during the tax year under review,

Association of Persons (AOPs) filed 64,336 returns and companies only filed 44,609 returns, which are 2.26 percent and 1.56 percent, respectively out of total return filing.

When analyzed the collection of taxes for the year, the companies contributed 55.84 percent in revenue collection. The share of non-salaried individuals in revenue collection was 21 percent. The salaried persons contributed 14.66 percent in revenue collection. The AOPs shared only 8.9 percent to the total revenue collection.

In a move aimed at promoting transparency and accountability, the Federal Board of Revenue (FBR) has officially released the latest Tax Directory of Parliamentarians, detailing the tax payments made by members of both the National Assembly and the Senate.

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