Income Tax Rate In Pakistan 2020

The rates have been updated by the federal board of revenue fbr till june 30 2019.

Income tax rate in pakistan 2020. If it will be collected then all of the poorer classes will be given relief and benefits. As per federal budget 2019 2020 presented by government of pakistan following slabs and income tax rates will be applicable for salaried persons for the year 2019 2020. Please note as for these income tax rates in pakistan where a persons is not appearing in the active taxpayers list the rate of tax required to be deducted or collected as the case may be shall be increased by hundred percent of the rate specified to be deducted or collected. What is withholding tax important note.

Personal income tax rates the following tax rates apply where income of the individual from salary exceeds 75 of taxable income. Fbr income tax slabs for salaried persons 2020 21. Income tax rates in pakistan 2020 on salaried non salaried person. This income tax calculator pakistan helps you to calculate salary monthly yearly payable income tax according to tax slabs 2020 2021.

2 345 000 27 5 of the amount exceeding pkr. The withholding tax card also included the 100 percent higher tax rates for persons not on the active taxpayers list atl. Updated up to june 30 2020. Following is the complete list of withholding tax rates applicable for tax year 2020.

30 000 000 then the rate of income tax is pkr. An association of persons is resident for a tax year if the control and management of its affairs is situated wholly or partly in pakistan at any time in that year. Here are the income tax rates in pakistan for year 2022 21. Latest income tax slab rates in pakistan for fiscal year 2020 21 latest income tax slab rates in pakistan.

If the annual salary income exceeds pkr. 12 000 000 but does not exceed pkr. Income tax is collected by the federal government fbr and is applicable on taxable income and profits. This will help and let us to smoother up the flow of our money that also effects on the economy.

According to the income tax slabs for fy 2020 21 a certain amount of income tax will be deducted from the salaries of individuals earning more than pkr 600 000 per annum. Finally income tax slab rates for salaried class in pakistan 2020 21 has published in the month of june. A non resident individual is taxed only on pakistan source income including income received or deemed to be received in pakistan or deemed to accrue or arise in pakistan. Pakistan tax rates for the year 2020 on different business structures in pakistan there are two main taxes one is income tax whereas the other is general sales tax also known as gst.

Withholding tax rates applicable withholding tax rates.