Budget Offers Tax Relief for Salaried Class, Businesses
• Income tax rates reduced for salaried individuals earning between Rs2.2m and Rs7m annually; 35pc slab threshold raised to Rs7m • Super tax abolished for incomes up to Rs500m; advance taxes on property transactions and foreign card payments reduced • Customs duties cut on 92 tariff lines; sales tax relief extended to sectors including EVs, shipping, refineries and magazines ISLAMABAD: The government has unveiled a sweeping package of tax and tariff reforms, offering relief
Pakistan's government has introduced tax reforms aimed at providing relief to salaried individuals and businesses. Income tax rates for those earning between Rs2.2 million and Rs7 million annually have been reduced, with the higher tax bracket threshold increased. The 'super tax' has been abolished for incomes up to Rs500 million, and advance taxes on property and foreign card payments are lowered. Customs duties have been cut on 92 tariff lines, and sales tax relief has been extended to sectors like electric vehicles and shipping. These measures are intended to promote documentation, digital compliance, and investment while easing financial burdens.
These tax reforms signal the government's strategy to stimulate economic activity and provide financial relief to specific segments of the population and business sector.
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