ISLAMABAD – Government servants and salaried class gets a blow as thefederal cabinet is likely to propose new tax reforms.
Federal cabinet is likely to revise the minimum level of taxableincome, a localmedia outletlink reported.
According to the report, people who earn Rs 400,000 per year will comeunder the income tax bracket which is currently Rs 1.2 million a year.
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A higher number of people in the working class will be made to pay theincreased amount of taxes as a result of such revision. Giving an exampleof the amount of payable tax, the author wrote, “If you earn Rs 100,000 amonth, your boss will cut Rs 3,333 from your salary as opposed to the Rs166 cut under the rules now.”
