Tech Desk
Aug 31, 2024
Social media has been a part of our lives, and its fame grows with each passing day in Pakistan. The rates of consumers keep on increasing progressively.
The National Assembly was informed about the revenue received by these social media giants, including Google, Facebook, and WhatsApp, from Pakistani citizens during 2023-24.
According to Finance Minister Muhammad Aurangzeb, this was coinciding with the various social media apps that received total sales revenue as high as Rs7.129 billion.
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Whereas Google received a total amount of Rs6.876 billion, received from sales revenue, both Facebook and WhatsApp received Rs343 million in revenue. Moreover, the Federal Board of Revenue (FBR) collected Rs785 million in taxes on these platforms.
The taxes collected from social media platforms amount to a huge sum, reflecting the increasing value of these platforms in the digital economy of Pakistan. This revenue can be utilised by the government for financing multiple public welfare projects and initiatives.
This revenue from social media sites in Pakistan is hugely substantial for the nation's digital economy. This results in a high demand for digital services, hence acting as a motivating tool for businesses to invest in digital marketing.
Additionally, it hinted at the regulation of social media websites so that a contribution to the national exchequer can be ensured.
