29/07/2022
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Tax Slab Tax Year 2022-23
The government of Pakistan has finalized tax slabs for salaried individuals for the fiscal year 2022-23 and has set a minimum income tax rate of 2.5% for those earning up to Rs. 100,000 per month and a maximum of 35% for individuals earning a monthly salary over Rs.1 million.
However, among all this negative news, there is some positive news for salaried individuals. Tax slabs for salaried individuals have been rationalized with a positive effect for salaried individuals drawing a monthly salary of up to Rs. 250,000. For example, salaried individuals having a monthly salary of Rs. 100,000 will now pay an annual tax of Rs. 15,000 as against the previously applicable tax of Rs. 30,000.
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