The Federal Board of Revenue (FBR) in Pakistan has reported collecting Rs2.74 trillion in Withholding Taxes (WHT) so far this fiscal year, reflecting a 36.5% increase from last year’s Rs2.007 trillion. The primary driver of this surge has been taxes on contracts, which contributed the largest share.
The data shows growth across all major WHT categories, with dividends leading the rise at 69.9%. Other areas seeing marked increases include Technical Fees (53.6%), Profit on Debt/Bank Interest & Securities (52.8%), salaries (39.3%), and the sale of immovable property (37%).
The largest share of WHT came from contract payments (18%), followed by Profit on Debt/Bank Interest (18%), salaries (13%), dividends (5%), and electricity bills (5%). Together, these five categories accounted for 59% of the total WHT collected.
According to Mettis Global, WHT now makes up 29.47% of Pakistan’s total revenue of Rs9.299 trillion, up from 28.02% last year, signaling its growing contribution to the national treasury.
Chief of Army Staff (COAS) General Syed Asim Munir visited the International Defence Exhibition and…
Pakistan Tehreek-e-Insaf (PTI) chapters worldwide have announced protests across multiple countries on November 24, following…
The Pakistan Peoples Party (PPP) has formally demanded the chairmanship of the Public Accounts Committee…
The Council of Islamic Ideology (CII) has clarified that the use of Virtual Private Networks…
The federal government has unveiled a plan to distribute 40,000 electric bikes (e-bikes) to the…
Automechanika Dubai 2024, the 21st edition, is set to run from December 10th to December…
This website uses cookies.