{"id":1532,"date":"2021-06-30T16:55:17","date_gmt":"2021-06-30T11:55:17","guid":{"rendered":"https:\/\/www.yourrightdecision.com\/blog\/?p=1532"},"modified":"2021-08-10T16:26:53","modified_gmt":"2021-08-10T11:26:53","slug":"tax-rates-for-tax-year-2022","status":"publish","type":"post","link":"https:\/\/www.yourrightdecision.com\/blog\/tax-rates-for-tax-year-2022\/","title":{"rendered":"Tax Rates for Tax Year 2022"},"content":{"rendered":"\n

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.<\/p>\n\n\n\n

1. Tax Rates on Salary Income<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/tax-amendments-made-for-income-of-salaried-persons-individuals<\/a>
https:\/\/pkrevenue.com\/salary-tax-card-for-year-2021-2022<\/a>
https:\/\/pkrevenue.com\/tax-rates-on-salary-income-tax-year-2022<\/a>
https:\/\/pkrevenue.com\/withholding-tax-rates-on-salary-income-for-2021-2022<\/a><\/p>\n\n\n\n

2. Tax Rates for Business Individuals and Association of Persons<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/tax-rates-for-individuals-and-association-of-persons<\/a><\/p>\n\n\n\n

3. Profit from Government Securities to be Taxed at 15%<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/profit-from-government-securities-to-be-taxed-at-15<\/a>
https:\/\/pkrevenue.com\/withholding-tax-up-to-30-to-be-collected-on-profit-from-national-saving-schemes<\/a>
https:\/\/pkrevenue.com\/tax-on-profit-on-debt-under-section-7b<\/a><\/p>\n\n\n\n

4. No withholding tax on Cash Withdrawal from July 01<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/no-withholding-tax-on-cash-withdrawal-from-july-01<\/a><\/p>\n\n\n\n

5. Condition of updating Tax Profile Withdrawn<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/condition-of-updating-tax-profile-withdrawn<\/a><\/p>\n\n\n\n

6. Advance Tax on Stock Exchange Transactions Abolished<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/advance-tax-on-stock-exchange-transactions-abolished<\/a><\/p>\n\n\n\n

7. Budget 2021\/2022: Tax imposed on Sales made through Online Marketplace<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/budget-2021-2022-tax-imposed-on-sales-made-through-online-marketplace<\/a>
https:\/\/pkrevenue.com\/online-market-places-to-require-collect-sales-tax<\/a>
https:\/\/pkrevenue.com\/online-market-places-to-withhold-sales-tax-from-july-01<\/a>
https:\/\/pkrevenue.com\/it-exports-services-granted-100-income-tax-credit<\/a>
https:\/\/pkrevenue.com\/online-market-places-to-collect-2-withholding-sales-tax<\/a><\/p>\n\n\n\n

8. Penalty imposed for Non-Declaration of Business Bank Account<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/penalty-imposed-for-non-declaration-of-business-bank-account<\/a>
https:\/\/pkrevenue.com\/finance-act-2021-taxpayers-given-three-months-to-update-business-bank-accounts<\/a><\/p>\n\n\n\n

9. Budget 2021\/2022: Consumers to get Prizes on Sales Tax Receipts<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/budget-2021-2022-consumers-to-get-prizes-on-sales-tax-receipts<\/a>
https:\/\/pkrevenue.com\/fbr-redefines-tier-1-retailers-for-integration<\/a>
https:\/\/pkrevenue.com\/fbr-launches-prize-scheme-for-pos-customers<\/a><\/p>\n\n\n\n

10. Domestic Electricity Consumers to Pay Tax on Monthly Bill above Rs25,000<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/domestic-electricity-consumers-to-pay-tax-on-monthly-bill-above-rs25000<\/a><\/p>\n\n\n\n

11. How much a Phone Call will cost after New Tax?<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/how-much-a-phone-call-will-cost-after-new-tax<\/a>
https:\/\/pkrevenue.com\/phone-calls-above-5-minutes-to-be-chargeable-additional-75-paisa<\/a><\/p>\n\n\n\n

12. Budget 2021\/2022: Turnover up to Rs10 million not required for Sales Tax Registration<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/budget-2021-2022-turnover-up-to-rs10-million-not-required-for-sales-tax-registration<\/a><\/p>\n\n\n\n

13. FBR allowed Probe Foreign Income beyond past Five Years<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/fbr-allowed-probe-foreign-income-beyond-past-five-years<\/a><\/p>\n\n\n\n

14. SBP allows Banks to Charge Fee on High Value Transactions<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/sbp-allows-banks-to-charge-fee-on-high-value-transactions<\/a><\/p>\n\n\n\n

15. New Tax Slabs for Property Income Proposed<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/new-tax-slabs-for-property-income-proposed<\/a>
https:\/\/pkrevenue.com\/fbr-explains-changes-to-tax-on-property-income-through-finance-act-2021<\/a>
https:\/\/pkrevenue.com\/tax-on-income-from-property-under-updated-ordinance<\/a><\/p>\n\n\n\n

16. FBR to Arrest Persons on Concealment above Rs. 25 Million<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/fbr-to-arrest-persons-on-concealment-above-rs25-million<\/a><\/p>\n\n\n\n

17. To whom Filing Income Tax Return for Tax Year 2021 is Mandatory<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/to-whom-filing-income-tax-return-for-tax-year-2021-mandatory<\/a><\/p>\n\n\n\n

18. Withholding Tax on Phone, Internet Usage Reduced<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/finance-act-2021-withholding-tax-on-phone-internet-usage-reduced<\/a><\/p>\n\n\n\n

19. Law amended to prevent Tax Avoidance on Gifts<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/law-amended-to-prevent-tax-avoidance-on-gifts<\/a><\/p>\n\n\n\n

20. Capital Gain Tax rates enhanced on Disposal of Immovable Properties<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/capital-gain-tax-rates-enhanced-on-disposal-of-immovable-properties<\/a>
https:\/\/pkrevenue.com\/capital-gain-tax-on-disposal-of-securities<\/a>
https:\/\/pkrevenue.com\/loss-adjustment-in-computing-capital-gain-tax<\/a><\/p>\n\n\n\n

21. New Rates of Regulatory Duty on Imported Smart Phones<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/new-rates-of-regulatory-duty-on-imported-smart-phones<\/a><\/p>\n\n\n\n

22. Changes made to Minimum Tax Regime<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/changes-made-to-minimum-tax-regime-through-finance-act-2021<\/a>
https:\/\/pkrevenue.com\/services-export-brought-under-final-tax-regime<\/a><\/p>\n\n\n\n

23. Additional Tax on Transfer of Unregistered Motor Vehicles to Continue<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/additional-tax-on-transfer-of-unregistered-motor-vehicles-to-continue<\/a><\/p>\n\n\n\n

24. Procedure Issued for Taxation of Cooperative Housing Societies<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/procedure-issued-for-taxation-of-cooperative-housing-societies<\/a><\/p>\n\n\n\n

25. Income tax exemption granted to international buying houses<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/income-tax-exemption-granted-to-international-buying-houses<\/a><\/p>\n\n\n\n

26. Taxpayers require to declare assets, income along with annual return<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/taxpayers-require-to-declare-assets-income-along-with-annual-return<\/a><\/p>\n\n\n\n

27. Last date for filing annual tax return is September 30; no extension to be granted<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/last-date-for-filing-annual-tax-return-is-september-30-no-extension-to-be-granted<\/a><\/p>\n\n\n\n

28. Measures for ease of doing business taken through Finance Act, 2021<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/measures-for-ease-of-doing-business-taken-through-finance-act-2021<\/a><\/p>\n\n\n\n

29. FBR explains Pakistan source of income<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/fbr-explains-pakistan-source-of-income<\/a><\/p>\n\n\n\n

30. FBR categorizes heads of income for tax collection<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/fbr-categorizes-heads-of-income-for-tax-collection<\/a>
https:\/\/pkrevenue.com\/heads-of-income-for-imposition-of-tax<\/a><\/p>\n\n\n\n

31. Annual Return Filing: What information is required for tax registration?<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/annual-return-filing-what-information-is-required-for-tax-registration<\/a><\/p>\n\n\n\n

32. SBP issues list of banks operating in Pakistan<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/sbp-issues-list-of-banks-operating-in-pakistan<\/a><\/p>\n\n\n\n

33. How to check active taxpayer status<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/how-to-check-active-taxpayer-status<\/a><\/p>\n\n\n\n

34. Budget 2021\/2022: Salient Features of Measures taken in Income Tax<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/budget-2021-2022-salient-features-of-measures-taken-in-income-tax<\/a><\/p>\n\n\n\n

35. Budget 2021\/2022: Universal Self Assessment Scheme Restored; Audit Cases to be Selected on Risk-Based System<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/budget-2021-2022-universal-self-assessment-scheme-restored-audit-cases-to-be-selected-on-risk-based-system<\/a><\/p>\n\n\n\n

36. Tax on payment to non-residents<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/tax-on-payment-to-non-residents-section-6<\/a><\/p>\n\n\n\n

37. Tax on Dividend Income<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/section-5-of-income-tax-ordinance-2001<\/a>
https:\/\/pkrevenue.com\/withholding-tax-rates-on-dividend-payment-for-2021-2022<\/a><\/p>\n\n\n\n

38. Super Tax<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/section-4b-of-income-tax-ordinance-2001-super-tax<\/a><\/p>\n\n\n\n

39. Tax on shipping, air transport income of non-residents<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/tax-on-shipping-air-transport-income-of-non-residents<\/a><\/p>\n\n\n\n

40. Tax on builders, developers<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/tax-on-builders-developers-under-section-7c-7d<\/a><\/p>\n\n\n\n

41. General provisions for final tax regime<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/general-provisions-for-final-tax-regime<\/a><\/p>\n\n\n\n

42. Salary income explained by tax ordinance<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/salary-income-explained-by-tax-ordinance<\/a><\/p>\n\n\n\n

43. Employee share scheme not chargeable to tax<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/employee-share-scheme-not-chargeable-to-tax<\/a><\/p>\n\n\n\n

44. Tax treatment of income from speculation business<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/tax-treatment-of-income-from-speculation-business<\/a><\/p>\n\n\n\n

45. Taxation on income from business<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/taxation-on-income-from-business-under-updated-law<\/a>
https:\/\/pkrevenue.com\/tax-law-allows-deductions-against-business-income<\/a>
https:\/\/pkrevenue.com\/expenditures-not-allowed-against-business-income<\/a><\/p>\n\n\n\n

46. How depreciation deduction allowed for tax calculation<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/how-depreciation-deduction-allowed-for-tax-calculation<\/a><\/p>\n\n\n\n

47. Advance tax rates on motor car purchase, registration<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/advance-tax-rates-on-motor-car-purchase-registration<\/a><\/p>\n\n\n\n

48. Tax ordinance exempts agriculture income<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/tax-ordinance-exempts-agriculture-income<\/a><\/p>\n\n\n\n

49. Tax rates on education fee<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/tax-rates-on-education-fee-for-year-2021-2022<\/a><\/p>\n\n\n\n

50. Adjustment against income from other sources<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/adjustment-against-income-from-other-sources<\/a><\/p>\n\n\n\n

51. Tax rates on brokerage and commission<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/tax-rates-on-brokerage-and-commission-for-2021-2022<\/a><\/p>\n\n\n\n

52. Capital gain tax on disposal of securities<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/capital-gain-tax-on-disposal-of-securities<\/a><\/p>\n\n\n\n

53. Method of accounting under income tax ordinance<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/method-of-accounting-under-income-tax-ordinance<\/a><\/p>\n\n\n\n

54. Banks withhold tax on export of IT services<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/banks-withhold-tax-on-export-of-it-services<\/a><\/p>\n\n\n\n

55. Profit of non-resident granted income tax exemption<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/profit-of-non-resident-granted-income-tax-exemption<\/a><\/p>\n\n\n\n

56. Tax rates on prize bond winning<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/tax-rates-on-prize-bond-winning-for-tax-year-2021-2022<\/a><\/p>\n\n\n\n

57. Scholarship cost exempted from income tax<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/scholarship-cost-exempted-from-income-tax<\/a><\/p>\n\n\n\n

58. Foreign source income tax exempted<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/foreign-source-income-tax-exempted<\/a><\/p>\n\n\n\n

59. Income tax exemption to Pakistani expatriates<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/income-tax-exemption-to-pakistani-expatriates<\/a><\/p>\n\n\n\n

60. Tax credit granted for charitable donations<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/tax-credit-granted-for-charitable-donations<\/a><\/p>\n\n\n\n

61. Withholding tax rates on interest income<\/h1>\n\n\n\n

https:\/\/pkrevenue.com\/rates-of-withholding-tax-on-interest-income-for-2021-2022<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The National Assembly of Pakistan passed the Finance Bill 2021 on Tuesday, June 29, 2021. Changes made in Income Tax…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-1532","post","type-post","status-publish","format-standard","hentry","category-taxation"],"yoast_head":"\nTax Rates for Tax Year 2022 - Your Right Decision Blog<\/title>\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.yourrightdecision.com\/blog\/tax-rates-for-tax-year-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tax Rates for Tax Year 2022 - Your Right Decision Blog\" \/>\n<meta property=\"og:description\" content=\"The National Assembly of Pakistan passed the Finance Bill 2021 on Tuesday, June 29, 2021. 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