Karachi’s Saddar listed as highest tax-paying market in Pakistan

ISLAMABAD: The iconic Saddar market in Karahi has emerged as the highest tax-paying market in the country, according to data released by the Federal Board of Revenue (FBR).

According to the Tax Directory Analysis for the year ended June 30, 2018, Saddar has 72,339 tax filers, who collectively paid around Rs77.2 billion in taxes for the fiscal year ending in June, 2018.

From Saddar, which is one of the largest market in the country, Rs 77,177,558,945 were collected in taxes for the fiscal year ended in June 2018.

Among leading taxpaying markets in Karachi, Jodia Bazaar situated in Saddar, Rs 3,059,924,445 was collected in taxes from 2,384 filers, whereas from Market Estate Avenue in Karachi Rs 6,191,036,104 were collected from 774 filers, and from ‘The Forum, Karachi’ Rs 3,314,055,039 was collected in taxes from just 202 filers.

Second on the list was Islamabad’s Blue Area where nearly Rs40 billion in taxes was collected. According to the data Rs 39,935,580,162 were collected from 5,854 tax filers for the fiscal year ended in June, 2018.

The highest tax-paying market in the country’s second-largest city, Lahore, was Multan Road, where 17,800 filers paid approximately Rs11 billion in taxes.

From Multan Road, Lahore Rs10,912,783,552 was collected in taxes from 17,800 tax filers, whereas, Rs 4,175,140,322 was collected in taxes from Lahore’s Raiwind Bazaar. From Karkhano Market, Peshawar Rs 5,274,998,666 was collected from 10,417 tax filers.

FBR has compiled the data on the basis of the registered addresses of filers. Retail outlets have been reported as per the registered address of their head offices.