⭐ Merited by shahzadafzal (1)
More burden for salary class. Tax, Tax and just Tax.
"The government has caved in to the demand of the International Monetary Fund (IMF) and passed on the burden of Rs80 billion on the salaried class by increasing their tax rates and withdrawing the relief announced hardly three weeks ago.
It has set the minimum income tax rate of 2.5% for those earning up to Rs100,000 a month as well as a maximum of 35% on the monthly income of over Rs1 million, according to the proposed amendments to the Finance Bill 2022.
The coalition government has reversed its two earlier decisions to exempt up to those with earning Rs100,000 a month from income tax and rolled back its move to reduce the highest income tax rate from 35% to 32.5% after the IMF refused to budge on its demand.
For more, visit: https://tribune.com.pk/story/2363146/1 "
"The government has caved in to the demand of the International Monetary Fund (IMF) and passed on the burden of Rs80 billion on the salaried class by increasing their tax rates and withdrawing the relief announced hardly three weeks ago.
It has set the minimum income tax rate of 2.5% for those earning up to Rs100,000 a month as well as a maximum of 35% on the monthly income of over Rs1 million, according to the proposed amendments to the Finance Bill 2022.
The coalition government has reversed its two earlier decisions to exempt up to those with earning Rs100,000 a month from income tax and rolled back its move to reduce the highest income tax rate from 35% to 32.5% after the IMF refused to budge on its demand.
For more, visit: https://tribune.com.pk/story/2363146/1 "