ISLAMABAD: A report prepared by Sustainable Development Policy Institute (SDPI), a think tank, has revealed that the total number of corporate taxpayers which filed tax returns was 23,845 against 61,989 companies registered with the Securities and Exchange Commission of Pakistan (SECP).
Only 13,206 companies paid income tax. 10,639 corporate taxpayers have not paid any income tax in the Tax Year 2013, however, filed tax returns. 38,144 of the companies registered by the SECP were non-filers.
The tax contribution of the companies who paid their taxes was Rs 315.85 billion which represents 43 per cent of the total direct tax collection for the Tax Year 2012-13.
The state’s own enterprises were revealed to be the highest tax payers. Oil and Gas Development Company (OGDCL) was the largest taxpayer with a total payment of Rs 36.96 billion, followed by Pakistan Petroleum, which paid taxes worth Rs 15.40 billion.
Other large taxpayers included Habib Bank Limited with Rs 11.78 billion, the Government Holdings Company with Rs 10.75 billion and Fauji Fertilizer with Rs 9.90 billion.
Muslim Commercial Bank, Pakistan State Oil, United Bank Limited, Pak-Arab Refinery, ENI, Kot Addu Power, BHP Petroleum, Allied Bank, Bank Al-Habib, Pakistan Telecommunication Authority, Pakistan Oil Fields and Unilever were also among the billion-taxpayer club, according to the report.
Only 45 companies paid taxes in excess of one billion rupees and their tax contribution amounted to Rs192.78 billion.
Thirty-four companies paid between Rs 500 million and Rs 1 billion in taxes and their tax contribution added up to Rs 22.854 billion. Another 242 mid-category companies paid taxes between Rs 100 million and Rs 500 million, with a total tax contribution of Rs 51.509 billion.
Consequently, out of FBR’s total direct tax collection, Rs 267.24 billion was contributed by only 321 companies.
A total of 26,600 of all registered businesses, either companies or Associations of Persons (AOPs) paid zero tax to FBR. AOPs are registered in the provinces under the Partnership Act of 1932.
According to available estimates, the total figure of registered AOPs countrywide is 124,000. Of the total, only 40,700 filed tax returns and among these 15,961 AOPs paid zero rupees in tax, while six filed returns in the negative.
Only 24,733 or 20 per cent of the AOPs paid any amount of money as tax and the total tax contribution of AOPs stood at Rs 28.83 billion.
