Karachi’s Saddar Bazaar emerges as the country’s highest tax paying market

The center of economic hub Karachi’s Saddar market emerged as the highest tax-paying market in the country, as per the data released by the Federal Board of Revenue (FBR).

According to the Tax Directory Analysis for the Year ended June 30, 2018, from Saddar market which is one of the country’s largest market Rs 77,177,558,945 were collected in taxes from 72,339 tax filers, for the fiscal year ended in June, 2018.

Among leading taxpaying markets in Karachi, from Jodia Bazaar alone 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 just 774 filers and from The Forum, Karachi Rs 3,314,055,039 were collected in taxes from 202 filers.

Second on the list was Islamabad’s Blue Area, from here Rs 39,935,580,162 were collected from 5,854 tax filers, for the fiscal year ended in June, 2018.

From Multan Road, Lahore Rs 10,912,783,552 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 said that the data has been compiled on the basis of registered addresses of filers. Retail Outlets have been reported as per registered address of head office.