Tax collection from salary income grows by 69pc in TY2020

Tax collection from salary income grows by 69pc in TY2020

ISLAMABAD: The tax collection on salary income has posted a sharp growth of 69 percent during tax year 2020, which may be attributed to change in tax slabs for salaried persons.

The tax collection on salary income increased to Rs129.43 billion during tax year 2020 as compared with Rs76.5 billion in the preceding tax year, according to statistics released by Federal Board of Revenue (FBR).

The tax collection from salary of federal government employees showed unprecedented increase of 118 percent to Rs13 billion during tax year 2020 as compared with Rs5.97 billion in the preceding tax year.

The tax collection from government employees (other than federal government employees) also posted an unprecedented increase of 131 percent to Rs18.12 billion during tax year 2020 as compared with Rs7.83 billion in the preceding tax year.

The tax collection from private sector employees posted 57 percent increase to Rs98.25 billion during tax year 2020 as compared with Rs62.6 billion in the preceding tax year.

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