Friday June 10, 2022

Govt Changes Income Tax Collection Slab

The new coalition government in its maiden Federal Budget 2022-23 made changes to the income tax collection slab. 

Presenting the budget, Finance Minister Miftah Ismail said the yearly income tax threshold has been increased from Rs600,000 to Rs1.2 million.

This proposal effectively means there will be no income tax on individuals earning up to Rs100,000 a month.

The table below gives details on the tax rates applicable on revised income slabs in Pakistan.

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