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Articles for tag: earners, income, Pakistans, Report, top

December 16, 2025

News Desk

Top 10% of earners take 42% of Pakistan’s income: report

A man counts Pakistani rupee notes at a foreign exchange shop in Peshawar, Pakistan on September 12, 2023. — Reuters The bottom 50% in Pakistan receives just 19% of the total income. Richest 10% own 59% of Pakistan’s total wealth: report. Top 1% control 24% of total wealth in Pakistan: WIL. Inequality in Pakistan remains stark, with the top 10% of earners taking 42% of total income, while the bottom 50% receive just 19%, according to the Global Inequality Report 2026. Published by the World Inequality Lab (WIL), a Paris-based research centre, the report says wealth in Pakistan is even

October 28, 2025

News Desk

A third of Pakistan’s taxpayers declare zero income on returns

This image released on March 3, 2022, shows the FBR building. — Facebook/Federal Board of Revenue FBR to send notices, start checks after October 31 deadline. Chairman Langrial says FBR has transaction data of filers. FBR points to 977,000 filers with lower income than last year. Almost a third of Pakistan’s taxpayers, about 1.7 million people, have declared zero taxable income, The News it said on Tuesday, citing sources. This flood of ‘nil’ returns, out of a total of 5.5 million submissions, is a critical challenge for the Federal Board of Revenue (FBR). Ironically, the FBR has identified nearly one

September 28, 2025

News Desk

He struggles to save and budge my average income amid inflation. Please help!

A representation of a person who puts a coin in the savings jar. – canvas Illustration geo.tv Dear Haya, I find it really difficult to save from my average income. I have worked for the last five years and it is completely up to my work to earn my monthly salary. While trying to manage the usual household expenses, it is difficult to save even 20% of what I do in a month. I carefully predict most of my income for rent, kitchen expenses, medical expenses and school fees for my children, so there is very little space to leave

September 27, 2025

News Desk

FBR removes the column of estimated market value from the income tax form from the income tax form

A ruthless image of the Federal Revenue Council (FBR) building in Islamabad. – Apply/file Justice Minister Azam Tarar has led the Review Committee. Petroleum minister, Attorney General were also members. The Commission evaluated the impact of the new column on taxpayers. ISLAMABAD: The Federal Revenue Council (FBR) on Friday removed the “estimated market value column” from the 2025 income tax return form on Prime Minister Shehbaz Sharif to facilitate taxpayers. The prime minister was a committee, chaired by the Federal Minister for Senator Azam Nazeer Tarar, to examine the new column introduced by the FBB in the Iris tax return

September 25, 2025

News Desk

FBB clarifies changes to the income tax form 2025

This image released on March 3, 2022, shows the FBR building. – Facebook/Federal Revenue Board Taxpayers are afraid that they may need to start again. FBR says no new SO has been issued. The deadline for deposit for income tax returns remains on September 30. Islamabad: The Federal Revenue Council (FBR) issued a clarification on the changes made to the 2025 Income Tax Form, a few days before the deadline for returning. The deadline for filing income tax returns remains on September 30, FBR said. However, reports were reported that a new column had been added to the IRIS form,

March 14, 2025

News Desk

The IMF is likely to give resignation from delay in agricultural income tax collection

The logo of the International Monetary Fund is observed outside the home building in Washington on September 4, 2018. – Reuters IMF is looking for details for the collective increase in revenue from corporate tax. The lender also wants Information on NTC’s reference terms. He wants to collect revenue down A common approach to real estate tax. ISLAMABAD: In the midst of the possibility of resignation against the delay of provinces in the Agriculture Income Tax Collection (AIT), the mission of review of the International Monetary Fund (IMF) requested details from the provincial revenue authorities for their AIT collection from

December 23, 2024

News Desk

Production structure and income distribution

LAHORE: The economic pie is divided between income classes where high net worth individuals buy luxury goods and services while low and middle income earners buy mass produced goods. Luxury goods are usually imported. If produced locally, they will include a lot of imported content. Moreover, they are produced through capital-intensive techniques. Hence, they consume valuable foreign exchange in developing countries. The size of the luxury goods market remains stable and increases over time as high-income individuals acquire higher wealth. These people intend to change their choices after a short time. For example, women choose the latest trends in the

October 14, 2024

News Desk

The deadline for submitting your income tax return is today

The FBR logo is placed at the board’s headquarters in Islamabad. — FBR website The date was extended following requests made by the general public, traders. The move was meant to embolden protesters against tax evasion. FBR to crack down on tax evaders with restrictions targeting non-depositors. LAHORE: After the Federal Board of Revenue (FBR) extended the deadline for filing tax returns for the financial year 2023-2024, Monday (today) is the last day for the general public to fulfill their responsibility. The FBR, in a statement issued on Sunday, said it has extended the deadline for submission of returns till

July 11, 2024

News Desk

The IMF proposes a 45% tax on farm income

Islamabad: As Pakistan seeks a multibillion-dollar bailout from the International Monetary Fund (IMF) to stabilize its chronically troubled economy, the global lender has proposed imposing a standard personal tax rate of up to 45% on agricultural income – which could end inequality in the income tax regime without the need to amend the Constitution. The condition is part of the structural benchmarks set by the IMF for the next bailout Pakistan is negotiating with the global lender, according to finance ministry sources. Pending the signing of the new deal, the sources said the global lender has set a deadline of

June 11, 2024

News Desk

Local experts challenge the IMF’s tax plan with innovative reforms

Islamabad: Contrary to the International Monetary Fund’s (IMF) recommendation to raise tax rates in the next budget to raise an additional Rs 2 trillion, Pakistan’s renowned local experts on Monday unveiled a package that proposes to generate an additional Rs 1.2 trillion with reducing income tax rates and withdrawing certain exemptions. A consortium of distinguished Pakistani tax experts and economists has prepared a package of tax reforms that promise higher revenues without stifling economic growth, businesses and individuals. These experts claim that their proposed reforms will result in a net gain of Rs 4.1 trillion over three years, equivalent to

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