The Federal Board of Revenue (FBR) has proposed granting tax exemption to the low/middle-income salaried class in the upcoming federal budget subject to approval from the International Monetary Fund (IMF), FBR sources told ProPakistani.
One of the key recommendations is to exempt individuals from income tax whose annual taxable income exceeds Rs. 600,000. Salaried individuals earning more than Rs. 50,000 per month may receive partial relief if the lender agrees.
According to sources within the FBR, only adjustments in the lower income tax slabs are under consideration. No relief is currently proposed for individuals in the high-income brackets. The proposals, prepared specifically for the upcoming fiscal year’s budget, will put focus on easing the tax burden on lower and middle-income earners.
The FBR is also pushing for simplification of the income tax return filing process as part of its broader reform package. All proposed changes will be presented to Prime Minister Shehbaz Sharif for final review before the budget is finalized.
Sources added that while the relief measures are being seriously considered, their implementation remains contingent upon the IMF’s approval in light of the ongoing fiscal reform program.
With reference to second last pra.
Since long FBR is simplifying the tx return form and even after years they re unable to do that.
What an excellent performance ? شاباش
یہ ڈرامے سرکتی محکمے کرتے ہی رہتی ھیں۔
“key recommendations is to exempt individuals from income tax whose annual taxable income exceeds Rs. 600,000.” ? OR taxable income up to Rs. 600,000 ?
Incompetent FBR is not in a position ever to bear any kind of shortfalls if there is a decrease somewhere there must be a increase on other hand to cover the shortfalls. And who is going to be hit ?
پاکستان میں جب پیٹرول ،بجلی،گندم اور دیگر اشیاء کے ریٹ IMF فکس کرتا ہے تو شہباز شریف کو بیٹھنے کا کیا فائدہ ہے