ISLAMABAD – Pakistan Tehreek-i-Insaf (PTI) federal government isconsidering a rollback of the income tax relief given to the salaried classby the previous government.
In its last budget shortly before general elections in July 2018, thePakistan Muslim League-Nawaz (PML-N) government had announced large taxcuts that included an upward revision of the minimum taxable income forsalaried class to Rs1.2 million per annum.
According to sources privy to the developments, officials have proposed tothe federal cabinet to revise the minimum threshold down from Rs1.2mn toRs0.6mn or Rs0.8mn.
Read Top Stories
Sources said the tax cuts have so far resulted in the government facing upto Rs25 billion in revenue collection losses, and officials are currentlyin the process of advising the cabinet on how to reduce the shortfall incoming months.
