Salaried class overtakes textile exporters in income tax payments

• Paid Rs367.8bn in FY24, against textile sector’s Rs111.23bn
• Banks’ contribution rises to Rs946bn; petroleum products share Rs413.48bn

ISLAMABAD: The salaried class emerged as the third-largest contributor to income tax collection in the outgoing fiscal year (FY24), following closely behind banks and petroleum products, and still surpassing the country’s affluent textile exporters.

The banking sector contributed Rs946.08 billion to income tax collection in FY24, a significant 66 per cent increase...