Individual Tax Rates 2021 Pakistan
- In Pakistan, income tax is imposed on individuals, companies, and other legal entities. The income tax rate for salaried individuals is progressive, meaning that the tax rate increases as the individual’s income increases. The tax rates for the fiscal year 2021 are as follows:
Up to Rs. 400,000: 0%
Rs. 400,001 to Rs. 800,000: 5%
Rs. 800,001 to Rs. 1,200,000: 10%
Rs. 1,200,001 to Rs. 2,500,000: 15%
Rs. 2,500,001 to Rs. 4,000,000: 20%
Rs. 4,000,001 to Rs. 8,000,000: 25%
Over Rs. 8,000,000: 30%
In addition to income tax, salaried individuals may also be subject to other taxes such as the Federal Excise Duty (FED) and sales tax. These taxes are generally imposed on goods and services, rather than income.
It is important to note that tax laws and rates may change from time to time, and it is always best to consult with a tax professional or the Federal Board of Revenue (FBR) for the most up-to-date information on tax laws and rates in Pakistan.
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