ISLAMABAD - Government servants and salaried class gets a blow as the federal cabinet is likely to propose new tax reforms.
Federal cabinet is likely to revise the minimum level of taxable income, a local media outlet link reported.
According to the report, people who earn Rs 400,000 per year will come under the income tax bracket which is currently Rs 1.2 million a year.
A higher number of people in the working class will be made to pay the increased amount of taxes as a result of such revision. Giving an example of the amount of payable tax, the author wrote, “If you earn Rs 100,000 a month, your boss will cut Rs 3,333 from your salary as opposed to the Rs 166 cut under the rules now.”