[Opinion] Revised tax relief for salaried class as PM orders changes to income brackets

Pakistan cuts Income Tax from 5% to 1% for Salaried Class earning up to Rs12lac a year

ISLAMABAD – Sigh of relief for inflation weary salaried class as Pakistani government slashed income tax rate for individuals earning up to Rs12 lac annually to just 1percent, down from previous rate of 5percent. Finance Minister Muhammad Aurangzeb made announcement during Senate session today as the move comes on the special directives of Prime Minister Shehbaz Sharif and is part of the broader fiscal reforms introduced in the Rs17.57 trillion …

Revised tax relief for salaried class as PM orders changes to income brackets

In a major development ahead of the new fiscal year, the government has once again revised the income tax structure for salaried individuals, following direct instructions from Prime Minister Shehbaz Sharif. During a session of the National Assembly’s Standing Committee on Finance, chaired by Syed Naveed Qamar, it was confirmed that the tax rate for individuals earning between Rs 600,000 and Rs 1.2 million annually has been adjusted downward in …

Govt slashes tax rate to 1% for individuals earning up to Rs1.2m annually - Islamabad Post

ISLAMABAD, JUN 21: Finance Minister Muhammad Aurangzeb on Saturday announced a positive development for the salaried class revealing that the tax rate for those individuals earning up to Rs1.2 million a year will drop from 5% to 1%. “The salaried class bears the burden of inflation and also pays [due] taxes. The reduction in the income tax is already part of the proposed budget [for FY26]. On the directions of Prime Minister Shehbaz Sharif, the …