Pakistan, Jan. 29 -- Pakistan's tax filings reveal a glaring disparity, with a staggering 43.3% of the 5.9 million returns submitted reporting zero taxable income. In contrast, just 3,651 individuals declared earnings exceeding Rs100 million, underscoring the country's narrow tax base.

Exclusive official data obtained by The News highlights the limited number of high-net-worth individuals, as only a few thousand reported taxable income above Rs100 million in their latest filings for the current fiscal year. Federal Board of Revenue (FBR) Chairman Rashid Mehmood Langrial recently testified before a National Assembly sub-panel, revealing that only 12 individuals declared wealth exceeding Rs10 billion in their tax returns-raising concerns a...