Tax Rates for Tax Year 2023

The Government of Pakistan announced the federal budget for 2022-2023 on June 10, 2022. The new budget introduced various measures. Tax slabs for salaried and business individuals were updated. The maximum tax on Behbood Certificates was reduced from 10% to 5%. Fixed income and sales tax was introduced for small retailers. Advance taxes were also introduced on luxury cars and international transactions.

In this blog post, I am sharing useful links from credible and authentic web sources so that you know more about the tax rates for the tax year 2023.

Tax Rates for Salaried Individuals

https://pkrevenue.com/pakistan-reduces-salary-tax-slabs-to-7-in-budget-2022-23

Tax Rates for Business Individuals, AOPs

https://pkrevenue.com/tax-rates-for-business-individuals-aops-during-ty2023

Capital Gain Tax on Disposal of Securities

https://pkrevenue.com/new-rates-of-capital-gain-tax-on-disposal-of-securities

Corporate Tax on Banks

https://pkrevenue.com/pakistan-slaps-45-corporate-tax-on-banks

Advance Tax on Foreign Payments

https://pkrevenue.com/pakistan-reintroduces-advance-tax-on-foreign-payments

Salaried Persons denied Adjustments against Deduction

https://pkrevenue.com/salaried-persons-denied-adjustments-against-deduction

FBR to disable mobile SIMs on non-filing of tax returns

https://pkrevenue.com/fbr-to-disable-mobile-sims-on-non-filing-of-tax-returns

Pakistan amends tax laws to legalize money transfers

https://pkrevenue.com/pakistan-amends-tax-laws-to-legalize-money-transfers

Fixed tax rates for retailers, payable through electricity bills

https://pkrevenue.com/fixed-tax-rates-for-retailers-payable-through-electricity-bills

CGT up to 15% slapped on immovable properties

https://pkrevenue.com/cgt-up-to-15-slapped-on-immovable-properties

Tax imposed on deemed income from immovable properties

https://pkrevenue.com/tax-imposed-on-deemed-income-from-immovable-properties

Pakistan amends tax laws for foreign digital transfers

https://pkrevenue.com/pakistan-amends-tax-laws-for-foreign-digital-transfers

Budget 2022/2023: Salient features of sales tax

https://pkrevenue.com/budget-2022-2023-salient-features-of-sales-tax

Budget 2022/2023: Salient features of income tax

https://pkrevenue.com/budget-2022-2023-salient-features-of-income-tax

Federal Budget Highlights

https://www.facebook.com/Befiler.pk/posts/pfbid0kzYiEqDJg43cTYBcs5t5r2Vj9eYUuGkDDQsH8KiazSHEjDtE6j9WHarrEnPcKJxxl

Tax credit on mutual funds has been withdrawn

https://www.facebook.com/groups/TaxReturnGuidelines/posts/3180266522210809

Tax of 0.25% on Freelancer Income

https://www.facebook.com/groups/TaxReturnGuidelines/posts/3180524932184968
https://www.facebook.com/groups/TaxReturnGuidelines/posts/3179903258913802

New Tax is Imposed on the value of Second Property worth 2.5cr

https://www.facebook.com/groups/TaxReturnGuidelines/posts/3179877492249712

Federal Budget 2022-23: Snapshot of Income and Sales Tax

https://www.befiler.com/blog/federal-budget-2022-2023-income-and-sales-tax-in-a-snapshot

Capital Gain Tax on Securities & Property

https://www.facebook.com/QaziTaxSolution/posts/pfbid02EWYi2W2WamgFZ4BmgEuu47miFVkX5mPijmaFBbnkUuKkDxhh26aXtz9keEizTBbpl

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