ISLAMABAD: In a welcome development for the working people of Pakistan, the National Assembly Standing Committee on Finance, headed by Syed Naveed Qamar, has approved key tax amendments:
Income tax relief for salaried workers: Income tax rate on annual income between Rs. 600,000 and Rs. 1.2 million has been reduced from 2.5% to 1%.
Corporate super tax cut: Companies will benefit from a 0.5% reduction in the super tax rate.
These recommendations will now go to the full Parliament as part of the Finance Bill 2025-26. If enacted, the changes will come into effect from the start of the next financial year, providing immediate relief to households and potential growth incentives for businesses.
