The National Assembly of Pakistan passed the Finance Bill 2021 on Tuesday, June 29, 2021. Changes made in Income Tax Ordinance and Income Tax Rules will be effective from July 01, 2021. I have summarized below the tax rates based on Finance Bill 2021. For this purpose, I have presented links from the authentic websites and web sources. I will update this list to add more tax rates as well.
1. Tax Rates on Salary Income
https://pkrevenue.com/tax-amendments-made-for-income-of-salaried-persons-individuals
https://pkrevenue.com/salary-tax-card-for-year-2021-2022
https://pkrevenue.com/tax-rates-on-salary-income-tax-year-2022
https://pkrevenue.com/withholding-tax-rates-on-salary-income-for-2021-2022
2. Tax Rates for Business Individuals and Association of Persons
https://pkrevenue.com/tax-rates-for-individuals-and-association-of-persons
3. Profit from Government Securities to be Taxed at 15%
https://pkrevenue.com/profit-from-government-securities-to-be-taxed-at-15
https://pkrevenue.com/withholding-tax-up-to-30-to-be-collected-on-profit-from-national-saving-schemes
https://pkrevenue.com/tax-on-profit-on-debt-under-section-7b
4. No withholding tax on Cash Withdrawal from July 01
https://pkrevenue.com/no-withholding-tax-on-cash-withdrawal-from-july-01
5. Condition of updating Tax Profile Withdrawn
https://pkrevenue.com/condition-of-updating-tax-profile-withdrawn
6. Advance Tax on Stock Exchange Transactions Abolished
https://pkrevenue.com/advance-tax-on-stock-exchange-transactions-abolished
7. Budget 2021/2022: Tax imposed on Sales made through Online Marketplace
https://pkrevenue.com/budget-2021-2022-tax-imposed-on-sales-made-through-online-marketplace
https://pkrevenue.com/online-market-places-to-require-collect-sales-tax
https://pkrevenue.com/online-market-places-to-withhold-sales-tax-from-july-01
https://pkrevenue.com/it-exports-services-granted-100-income-tax-credit
https://pkrevenue.com/online-market-places-to-collect-2-withholding-sales-tax
8. Penalty imposed for Non-Declaration of Business Bank Account
https://pkrevenue.com/penalty-imposed-for-non-declaration-of-business-bank-account
https://pkrevenue.com/finance-act-2021-taxpayers-given-three-months-to-update-business-bank-accounts
9. Budget 2021/2022: Consumers to get Prizes on Sales Tax Receipts
https://pkrevenue.com/budget-2021-2022-consumers-to-get-prizes-on-sales-tax-receipts
https://pkrevenue.com/fbr-redefines-tier-1-retailers-for-integration
https://pkrevenue.com/fbr-launches-prize-scheme-for-pos-customers
10. Domestic Electricity Consumers to Pay Tax on Monthly Bill above Rs25,000
https://pkrevenue.com/domestic-electricity-consumers-to-pay-tax-on-monthly-bill-above-rs25000
11. How much a Phone Call will cost after New Tax?
https://pkrevenue.com/how-much-a-phone-call-will-cost-after-new-tax
https://pkrevenue.com/phone-calls-above-5-minutes-to-be-chargeable-additional-75-paisa
12. Budget 2021/2022: Turnover up to Rs10 million not required for Sales Tax Registration
13. FBR allowed Probe Foreign Income beyond past Five Years
https://pkrevenue.com/fbr-allowed-probe-foreign-income-beyond-past-five-years
14. SBP allows Banks to Charge Fee on High Value Transactions
https://pkrevenue.com/sbp-allows-banks-to-charge-fee-on-high-value-transactions
15. New Tax Slabs for Property Income Proposed
https://pkrevenue.com/new-tax-slabs-for-property-income-proposed
https://pkrevenue.com/fbr-explains-changes-to-tax-on-property-income-through-finance-act-2021
https://pkrevenue.com/tax-on-income-from-property-under-updated-ordinance
16. FBR to Arrest Persons on Concealment above Rs. 25 Million
https://pkrevenue.com/fbr-to-arrest-persons-on-concealment-above-rs25-million
17. To whom Filing Income Tax Return for Tax Year 2021 is Mandatory
https://pkrevenue.com/to-whom-filing-income-tax-return-for-tax-year-2021-mandatory
18. Withholding Tax on Phone, Internet Usage Reduced
https://pkrevenue.com/finance-act-2021-withholding-tax-on-phone-internet-usage-reduced
19. Law amended to prevent Tax Avoidance on Gifts
https://pkrevenue.com/law-amended-to-prevent-tax-avoidance-on-gifts
20. Capital Gain Tax rates enhanced on Disposal of Immovable Properties
https://pkrevenue.com/capital-gain-tax-rates-enhanced-on-disposal-of-immovable-properties
https://pkrevenue.com/capital-gain-tax-on-disposal-of-securities
https://pkrevenue.com/loss-adjustment-in-computing-capital-gain-tax
21. New Rates of Regulatory Duty on Imported Smart Phones
https://pkrevenue.com/new-rates-of-regulatory-duty-on-imported-smart-phones
22. Changes made to Minimum Tax Regime
https://pkrevenue.com/changes-made-to-minimum-tax-regime-through-finance-act-2021
https://pkrevenue.com/services-export-brought-under-final-tax-regime
23. Additional Tax on Transfer of Unregistered Motor Vehicles to Continue
https://pkrevenue.com/additional-tax-on-transfer-of-unregistered-motor-vehicles-to-continue
24. Procedure Issued for Taxation of Cooperative Housing Societies
https://pkrevenue.com/procedure-issued-for-taxation-of-cooperative-housing-societies
25. Income tax exemption granted to international buying houses
https://pkrevenue.com/income-tax-exemption-granted-to-international-buying-houses
26. Taxpayers require to declare assets, income along with annual return
https://pkrevenue.com/taxpayers-require-to-declare-assets-income-along-with-annual-return
27. Last date for filing annual tax return is September 30; no extension to be granted
28. Measures for ease of doing business taken through Finance Act, 2021
https://pkrevenue.com/measures-for-ease-of-doing-business-taken-through-finance-act-2021
29. FBR explains Pakistan source of income
https://pkrevenue.com/fbr-explains-pakistan-source-of-income
30. FBR categorizes heads of income for tax collection
https://pkrevenue.com/fbr-categorizes-heads-of-income-for-tax-collection
https://pkrevenue.com/heads-of-income-for-imposition-of-tax
31. Annual Return Filing: What information is required for tax registration?
https://pkrevenue.com/annual-return-filing-what-information-is-required-for-tax-registration
32. SBP issues list of banks operating in Pakistan
https://pkrevenue.com/sbp-issues-list-of-banks-operating-in-pakistan
33. How to check active taxpayer status
https://pkrevenue.com/how-to-check-active-taxpayer-status
34. Budget 2021/2022: Salient Features of Measures taken in Income Tax
https://pkrevenue.com/budget-2021-2022-salient-features-of-measures-taken-in-income-tax
35. Budget 2021/2022: Universal Self Assessment Scheme Restored; Audit Cases to be Selected on Risk-Based System
36. Tax on payment to non-residents
https://pkrevenue.com/tax-on-payment-to-non-residents-section-6
37. Tax on Dividend Income
https://pkrevenue.com/section-5-of-income-tax-ordinance-2001
https://pkrevenue.com/withholding-tax-rates-on-dividend-payment-for-2021-2022
38. Super Tax
https://pkrevenue.com/section-4b-of-income-tax-ordinance-2001-super-tax
39. Tax on shipping, air transport income of non-residents
https://pkrevenue.com/tax-on-shipping-air-transport-income-of-non-residents
40. Tax on builders, developers
https://pkrevenue.com/tax-on-builders-developers-under-section-7c-7d
41. General provisions for final tax regime
https://pkrevenue.com/general-provisions-for-final-tax-regime
42. Salary income explained by tax ordinance
https://pkrevenue.com/salary-income-explained-by-tax-ordinance
43. Employee share scheme not chargeable to tax
https://pkrevenue.com/employee-share-scheme-not-chargeable-to-tax
44. Tax treatment of income from speculation business
https://pkrevenue.com/tax-treatment-of-income-from-speculation-business
45. Taxation on income from business
https://pkrevenue.com/taxation-on-income-from-business-under-updated-law
https://pkrevenue.com/tax-law-allows-deductions-against-business-income
https://pkrevenue.com/expenditures-not-allowed-against-business-income
46. How depreciation deduction allowed for tax calculation
https://pkrevenue.com/how-depreciation-deduction-allowed-for-tax-calculation
47. Advance tax rates on motor car purchase, registration
https://pkrevenue.com/advance-tax-rates-on-motor-car-purchase-registration
48. Tax ordinance exempts agriculture income
https://pkrevenue.com/tax-ordinance-exempts-agriculture-income
49. Tax rates on education fee
https://pkrevenue.com/tax-rates-on-education-fee-for-year-2021-2022
50. Adjustment against income from other sources
https://pkrevenue.com/adjustment-against-income-from-other-sources
51. Tax rates on brokerage and commission
https://pkrevenue.com/tax-rates-on-brokerage-and-commission-for-2021-2022
52. Capital gain tax on disposal of securities
https://pkrevenue.com/capital-gain-tax-on-disposal-of-securities
53. Method of accounting under income tax ordinance
https://pkrevenue.com/method-of-accounting-under-income-tax-ordinance
54. Banks withhold tax on export of IT services
https://pkrevenue.com/banks-withhold-tax-on-export-of-it-services
55. Profit of non-resident granted income tax exemption
https://pkrevenue.com/profit-of-non-resident-granted-income-tax-exemption
56. Tax rates on prize bond winning
https://pkrevenue.com/tax-rates-on-prize-bond-winning-for-tax-year-2021-2022
57. Scholarship cost exempted from income tax
https://pkrevenue.com/scholarship-cost-exempted-from-income-tax
58. Foreign source income tax exempted
https://pkrevenue.com/foreign-source-income-tax-exempted
59. Income tax exemption to Pakistani expatriates
https://pkrevenue.com/income-tax-exemption-to-pakistani-expatriates
60. Tax credit granted for charitable donations
https://pkrevenue.com/tax-credit-granted-for-charitable-donations
61. Withholding tax rates on interest income
https://pkrevenue.com/rates-of-withholding-tax-on-interest-income-for-2021-2022