Tax Concessions to Salaried & Non Salaried Taxpayers Will be reversed in upcoming Budget 2019 | Shabbar Zaidi | Chairman FBR | Bad News for Salaried Taxpayers ||
Chairman FBR, Mr Shabbar Zaidi talked to media on Sunday 26th May 2019, where he categorically said that tax slabs for salaried and non salaried taxpayers will be reversed back to the 2017 tax slabs which were amended by the last N-League Government.
In last year budget for the financial year 2018-19, the new tax slabs were introduced whereby the exempted limit of Rs 400,000 was retained and tax of Rs 1,000 per annum was charged from Rs 400,000 to 800,000 and from Rs 800,000 to 1,200,000 tax of Rs 2,000 per annum was charged.
Such increase in tax rates as compared to last year budget, it is expected that amount of Rs 14 Billion will be extra gained from such revisions.
Higher tax slabs were also reduced in the last year budget from 35pc to 25pc , whereby now it has been decided that higher income class will be taxed more and low income class will taxed at a lower rates of taxes.
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