On 12 June 2024, Pakistan's Federal Budget 2024-2025 was presented to parliament. Some of the main proposed income tax measures of the budget are summarized as follows:
- The individual income tax brackets/rates for salaried individuals (at least 75% of income from salary) will be revised as follows:
- up to PKR 600,000 - 0%
- over PKR 600,000 up to 1,200,000 - 5%
- over PKR 1,200,000 up to 2,200,000 - 15%
- over PKR 2,200,000 up to 3,200,000 - 25%
- over PKR 3,200,000 up to 4,100,000 - 30%
- over PKR 4,1…