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Thursday, May 23, 2024

Tax collection from Karachi dwarfs contributions from all other major cities combined: report

Federal Board of Revenue (FBR) has carried out a tax analysis for contributions from each city for tax year 2018 and results show Karachi topping the list.

According to a city-wise tax analysis undertaken by the Federal Board of Revenue (FBR) for tax year 2018 Karachi topped the list of taxpaying cities in the year and was followed by Islamabad, Lahore, Rawalpindi and then Faisalabad, The News reported on Saturday.

The tax collections for tax year 2018 in major cities such as Karachi, Islamabad, Lahore, Rawalpindi, and Faisalabad, stood at Rs572.59 billion, Rs204.14 billion, Rs200.71 billion, Rs35.17 billion, Rs16.26 billion respectively.

Islamabad ahead of Lahore

The total tax collection from Karachi stood at Rs572.59 billion. Segments of the major metropolitan showed that tax collection from the commerical hub was Rs209.1 billion, with Rs9.05 billion from Karachi Central, Rs34.09 billion from Karachi East, Rs114.22 billion from Karachi South, and Rs28.89 billion from Karachi West.

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Islamabad was the second highest tax paying city depositing Rs204.14 billion in taxes during 2018. The capital was followed by Lahore which stood in third place depositing Rs200.71 billion in taxes during 2018.

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Income tax collection from return filers in Rawalpindi totaled Rs35.17 billion for 2018. Taxes from filers in Multan and Sahiwal were Rs12.7 billion, and Rs1.77 billion respectively. Income tax collection from Gujranwala was Rs7.92 billion.

Tax collections from income tax filers in 2018

Rs4.49 billion from income tax return filers were collected by FBR in Sialkot. Tax collection from Abbottabad stood at Rs1.61 billion, and from Bahawalpur was Rs2.48 billion. The FBR collected Rs6.35 billion tax from Dera Gazi Khan and Rs1.64 billion income tax from Kohat during tax year 2018. The FBR collected Rs13.64 billion from Peshawar, while tax collection from Quetta stood at Rs10.05 billion.

According to FBR data, tax collection from Sargodha was Rs2.21 billion and Rs2.61 billion from Sheikhupura. Sukkur contributed income tax of Rs3. 57 billion. Haripur contributed income tax of Rs1.7 billion, and income tax collection in Hyderabad amounted to Rs4.06 billion. The income tax return filers in Taxila contributed Rs1.25 billion as income tax, and the filers in Thatta deposited Rs1.01 billion tax during the same period.

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Tax collection from other major cities include, Dera Ghazi Khan Rs6.35 billion, Gujrat Rs1.69 billion, Haripur Rs1.7 billion, Hyderabad Rs2.5 billion, Hyderabad City Rs1.56 billion, Jaranwala Rs1.42 billion, Kohat Rs1.64 billion, Loralai Rs1.79 billion, Mardan Rs1.33 billion and Rahim Yar Khan Rs1.9 billion.

GVS News Desk with additional input by other sources