KARACHI: Federal Board of Revenue (FBR) has updated tax rate for salary persons as per Finance Supplementary (Second Amendment) Act, 2019. The tax card is updated up to March 09, 2019. The FBR said that persons responsible for paying salary are required to collect tax from employees under Section 149 of Income Tax Ordinance, 2001 […]
KARACHI: Following are the tax rates for individuals under First Schedule of Income Tax Ordinance, 2001. The tax rate as updated through Finance Supplementary (Amendment) Act, 2018 to Income Tax Ordinance, 2001, issued by Federal Board of Revenue (FBR). Rates of tax for individuals (1) The rates of tax imposed on the taxable income of […]
The Federal Board of Revenue (FBR) has recently presented a comprehensive revenue position to the finance ministry, highlighting an estimated loss of Rs50 billion resulting from the downward revision of tax rates on salary income.
Islamabad – The Federal Board of Revenue (FBR) has introduced a minimum tax for salary individuals with taxable income exceeding Rs800,000 but not exceeding Rs12,000 for Tax Year 2019.