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Pakistan Business

Here's how much your income tax may be reduced in FY26

Government sources informed Nukta that Pakistan has managed to convince the IMF to reduce taxes on salaried income

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Haris Zamir

Business Editor

Experience of almost 33 years where started the journey of financial journalism from Business Recorder in 1992. From 2006 onwards attached with Television Media worked at Sun Tv, Dawn Tv, Geo Tv and Dunya Tv. During the period also worked as a stringer for Bloomberg for seven years and Dow Jones for five years. Also wrote articles for several highly acclaimed periodicals like the Newsline, Pakistan Gulf Economist and Money Matters (The News publications)

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Here's how much your income tax may be reduced in FY26
Photo by Mikhail Nilov at Pexels

Some relief may finally be in the cards for Pakistan's salaried class; government sources informed Nukta on Tuesday that Pakistan has managed to convince the International Monetary Fund (IMF) to reduce tax rates on salaried income.

The Pakistan government and the IMF have been holding virtual discussions on the budget for fiscal year 2025-26. Government officials have managed to convince the international lender that expected shortfall from the tax breaks will be plugged through other sources.

Data from Pakistan's tax collection body — the Federal Board of Revenue — revealed that income tax collection from salaried class in 10 months of the current fiscal year amounted to PKR 448 billion compared with PKR 348 billion collected in same period last year.

Analysts expect that tax collection from salaried class might reach around PKR 550 billion by year end.

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