Ministry of Finance Sees Rise in Direct Taxes, UAE Promotes Global Careers
The rise in direct taxes and the UAE's global career initiatives reflect a broader trend towards economic reform and international cooperation, with a focus on promoting progressive taxation, stimulating national talent, and driving economic growth through strategic partnerships and career opportunities.
Pakistan's share of direct taxes has increased to 48.7% in 2024-25, driven by growth in advance taxes and withholding taxes, while the UAE Ministry of Finance promotes career opportunities in international financial organizations for Emirati students.
The increase in direct taxes reflects the government's commitment to making taxation progressive and equitable, with a significant shift from 2021-22 when direct taxes accounted for 36.5% of total Federal Board of Revenue (FBR) revenues. The share of indirect taxes decreased from 63.5% in 2021-22 to 51.3% in 2024-25, indicating a positive trend towards a more balanced tax structure.
In a separate development, the UAE Ministry of Finance, in collaboration with the UAE Consulate General in Shanghai and the New Development Bank, hosted an awareness session for Emirati students studying in China. The session aimed to explore career opportunities in international financial organizations and multilateral institutions, as part of the 'UAE Global Cadres' initiative.
The event brought together key attendees, including H.E. Muhannad Sulaiman Al Naqbi, Consul General of the UAE in Shanghai, and Qiangwu Zhou, Vice-President and CAO of the New Development Bank. Representatives from the New Development Bank delivered presentations on recruitment mechanisms, professional development pathways, and key programs targeting young talent, stimulating national talent and enabling Emirati students to explore career opportunities in the global financial sector.
As Pakistan strives to achieve economic stability and sustainable growth, the increase in direct taxes and the UAE's efforts to promote global careers for its nationals demonstrate a commitment to progressive and equitable economic development, with a focus on building a competitive and influential national workforce.