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Pakistan has recorded a sharp rise in the number of income tax return filers, but the increase has not translated into higher tax payments, with the amount paid alongside returns falling by 7 per cent, Geo News reported.
According to data compiled by Pakistans Federal Board of Revenue (FBR), taxpayers paid Rs 77.3 billion with their income tax returns up to September 30, compared with Rs 83.3 billion during the same period last year, the report said. The data showed that nearly 1.79 million additional returns were filed during the ongoing fiscal year. However, the report highlighted that around 39 per cent of the returns filed this year were nil returns, meaning taxpayers reported no income tax payable. Returns declaring income above the taxable threshold increased by 37 per cent, rising from 1.82 million to nearly 2.5 million. Among non-salaried individuals, such returns increased by 47 per cent, while the figure for salaried taxpayers rose by 32 per cent. According to the report, the increase in filings was driven largely by non-salaried individuals. Their returns rose by 60 per cent, from 2.38 million to 3.81 million, adding around 1.43 million returns, The Geo News reported. Salaried individuals recorded a comparatively smaller 22 per cent increase, reaching about 1.9 million returns. Despite the larger number of filers, tax paid by companies declined significantly. Pakistans latest tax figures point to continuing pressure on its revenue system, with a rise in the number of tax filers failing to deliver higher payments. While more people are entering the tax net, a large share of returns report little or no tax liability. The decline in tax payments by companies also adds to concerns over revenue collection. The figures highlight the challenge before Pakistans authorities to broaden the tax base while ensuring accurate income reporting and stronger compliance. (ANI)
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