Income Tax Rates and Slabs: Latest Changes for Salaried Persons
2023-2024 Federal Budget
The Government of Pakistan has announced revisions to income tax slabs and rates for salaried individuals in the Federal Budget 2023-2024.
Salary Tax Slab Adjustments
The updated tax structure introduces the following slabs and rates for tax calculations:
| Income Range | Tax Rate |
|---|---|
| Up to 500,000 PKR | 0% |
| 500,001 PKR - 1,000,000 PKR | 5% |
| 1,000,001 PKR - 2,000,000 PKR | 10% |
| 2,000,001 PKR and above | 15% |
These changes aim to streamline the tax system and provide tax relief to low- and middle-income earners.
Comments