{"id":102430,"date":"2025-06-02T12:08:05","date_gmt":"2025-06-02T07:08:05","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=102430"},"modified":"2025-06-02T12:08:10","modified_gmt":"2025-06-02T07:08:10","slug":"salaried-class-may-see-tax-relief-in-budget","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/salaried-class-may-see-tax-relief-in-budget.html","title":{"rendered":"Salaried class may see tax relief as IMF signals green light"},"content":{"rendered":"\n<p>Islamabad: Pakistan and the International Monetary Fund (IMF) appear to be converging on a consensus to offer income tax relief to the salaried class in the upcoming federal budget for 2025-26, sources confirmed on Saturday.<\/p>\n\n\n\n<p>The IMF has, in principle, allowed a reduction in tax rates across various income slabs, with an estimated relief package of PKR 56\u201360 billion. However, the Federal Board of Revenue (FBR) is under pressure to introduce countermeasures to offset this revenue shortfall in a bid to meet the next fiscal year\u2019s ambitious tax target of PKR 14.2 trillion.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/imf-seeks-higher-fines-on-tax-evaders-in-budget.html\" target=\"_blank\" rel=\"noreferrer noopener\">Budget 2025-26: IMF seeks higher fines, wider tax net<\/a><\/p>\n\n\n\n<p>During late-night discussions between IMF officials and FBR on Friday, the Fund reportedly accepted a proposal to reduce the tax rate in the first slab for salaried individuals earning between PKR 0.6 million and PKR 1.2 million annually. The current 5% tax may be slashed to either 1%\u2014as suggested by Pakistan\u2014or 1.5%, as the IMF prefers.<\/p>\n\n\n\n<p>For instance, under the existing regime, individuals in the first slab pay PKR 30,000 annually. A 1% tax rate would bring this down to PKR 6,000, while a 1.5% rate would reduce it to PKR 9,000.<\/p>\n\n\n\n<p>Additionally, the government is considering a 2.5% cut across all higher slabs, with the top rate possibly dropping from 35% to 32.5%. Final figures are still being negotiated.<\/p>\n\n\n\n<p>Despite the apparent IMF support for tax relief, budget planners face multiple hurdles. The FBR is already struggling to meet its downward-revised target of PKR 12.33 trillion for the current fiscal year, having missed the original PKR 12.97 trillion mark by over PKR 1 trillion in the first 11 months. Any further tax relief could widen the gap unless new revenue streams are introduced.<\/p>\n\n\n\n<p>Sources also revealed tension over a proposed tariff rationalisation plan by the Commerce Ministry and National Tariff Commission, which could slash import duties and cost the exchequer another PKR 150\u2013200 billion. While the government argues that this would stimulate economic activity and eventually improve revenue collection, the FBR has expressed concern about potential misdeclarations in customs due to lower duties on imported goods.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/govt-eyes-relief-for-construction-real-estate-sector.html\" target=\"_blank\" rel=\"noreferrer noopener\">Govt eyes relief for construction, real estate in budget talks with IMF<\/a><\/p>\n\n\n\n<p>Meanwhile, the IMF has also raised objections to Pakistan\u2019s plan to allocate 2,000 MW of electricity for cryptocurrency mining without prior clearance from the Energy Ministry or the National Electric Power Regulatory Authority (Nepra). With less than a month left before the budget announcement, Pakistan\u2019s economic managers are navigating a tightrope between fiscal discipline and public relief, under the watchful eye of the IMF.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Pakistan and the International Monetary Fund (IMF) appear to be converging on a consensus to offer income tax relief to the salaried class in the upcoming federal budget for 2025-26, sources confirmed on Saturday. The IMF has, in principle, allowed a reduction in tax rates across various income slabs, with an estimated relief package of PKR 56\u201360 billion. However, the Federal Board of Revenue (FBR) is under pressure to introduce countermeasures to offset this revenue shortfall in a bid to meet the next fiscal year\u2019s ambitious tax target of PKR 14.2 trillion. Read: Budget 2025-26: IMF seeks higher fines, wider tax net During late-night discussions between IMF officials and FBR on Friday, the Fund reportedly accepted a proposal to reduce the tax rate in the first slab for salaried individuals earning between PKR 0.6 million and PKR 1.2 million annually. The current 5% tax may be slashed to either 1%\u2014as suggested by Pakistan\u2014or 1.5%, as the IMF prefers. For instance, under the existing regime, individuals in the first slab pay PKR 30,000 annually. A 1% tax rate would bring this down to PKR 6,000, while a 1.5% rate would reduce it to PKR 9,000. Additionally, the government is considering&hellip;<\/p>\n","protected":false},"author":18,"featured_media":87304,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[65067,61449,3362,11728,63911,61663,60094,65065,65066,1109],"persona":[],"class_list":{"0":"post-102430","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-cryptocurrency-mining","9":"tag-economic-policy","10":"tag-fbr","11":"tag-imf","12":"tag-income-tax-slabs","13":"tag-pakistan-budget-2025-26","14":"tag-revenue-shortfall","15":"tag-salaried-class-tax-relief","16":"tag-tariff-rationalisation","17":"tag-tax-reforms","18":"cat-15015-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Salaried class may see tax relief in budget - Zameen News<\/title>\n<meta name=\"description\" content=\"The IMF has, in principle, allowed a reduction in tax rates across various income slabs, with an estimated relief package of...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/salaried-class-may-see-tax-relief-in-budget.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Salaried class may see tax relief in budget - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The IMF has, in principle, allowed a reduction in tax rates across various income slabs, with an estimated relief package of...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/salaried-class-may-see-tax-relief-in-budget.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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