Salaried class is the third largest tax contributor, NA told

The Federal Board of Revenue (FBR) informed the National Assembly that the salaried class has become the third largest contributor to tax payments, with overall collections experiencing significant growth over the past three years. The FBR has provided a written response to the enquiries posed by MNAs Syeda Shehla Raza, Muhammad Moin Aamer Pirzada, Ms Shazia Marri, and Naveed Aamir concerning tax collection from the salaried class, the tax collection target, and the expected outcomes of proposed reforms. Finance Minister Muhammad Aurangzeb said that among the top four income classes, salaried people rank as the third most significant contributor to revenue collection. However, he noted that salary income is subject to a lower tax rate. The maximum tax rate for individuals earning a salary stands at 35pc, whereas the highest rate for other individuals reaches 45pc, the minister said in a written reply.