Pakistan's top income taxpayer within the "individual category" is Farooq Bengali, who has declared income of Rs 110 million. FBR Member Inland Revenue Irfan Nadeem told Senate Standing Committee on Finance and Revenue here on Thursday that the Bengali is a banker by profession, who is the highest income taxpayer in the country.

He has paid approximately 20 percent tax on the declared income of Rs 110 million, which is the highest in Pakistan. The committee highly appreciated the top income taxpayer with the observation that it is extremely encouraging to know that a banker has declared such a huge income to the income tax department.

Irfan Nadeem further said that the OGDC is the top income taxpayer company as per returns. He added that the board has received 15,751 electronic income tax returns from companies till January 25, 2009, reflecting the corporate sector's confidence in the FBR Web portal system.

Copyright Business Recorder, 2009