ISLAMABAD: The rate of direct taxes is more than other taxes during the financial year 2014-15 as compared to previous year 2013-14.
According to the Federal Board of Revenue report, during fiscal year 2014-15 the direct taxes were increased by 43 percent while sales tax witnessed an increased of 42 percent. Customs duty was increased by 10 percent and federal excise duty increased by 7 percent.
According to sources, during FY 2014-15 tax collection from salaries was increased to Rs 79.46 billion while it was Rs 64.55 billion during fiscal year 2013-14. Moreover, in terms of withholding tax on banking transactions increased to Rs 23.9 billion during fiscal year 2014-15 while it was Rs 19.07 during fiscal year 2013-14.
