12/06/2026
:: - Budget 2026 (Quick Update)
- Salary slabs reduced, effective from salary of 2.2 Million.
- Super tax applicable on income exceeding Rs.500M @8%
- Super tax abolished for income not exceeding Rs.500M
- No Surcharge on Salary income case
- Property transfer taxes reduced from 2.5% to 1.25% and for seller 5.5% to 2.75%
- Reduced rate on IT exoprt services @0.25% remained and shall be effective till 30.06.2031
- Exporter tax is reduced from 2% to 1.25% as minimum tax
- Tax on credit card / online payments is reduced from 5% to 0.5%
- Capital Value Tax (CVT) @1% on Foreign Assets has been abolished
- For small business, up to 200M turnover is fixed as 1% (with minimum 25,000 as Final Tax
- Excise Duty imposed on Motor Vehicles exceeding 2000CC
- Excise Duty imposed on EV Motor Vehicles exceeding Rs20M value
- Excise Duty abolished on foreign business class travel
(Irfan Ilyas FCA)
