KARACHI – Federal Board of Revenue (FBR) officials have denied the reports that income tax exemptions for those with a monthly salary of Rs50,000 have ended.
They guaranteed the continuation of these exemptions. They made it clear that proposing additional taxes or re-evaluating taxes for those with low incomes would not be discussed during the FBR’s ongoing negotiations with the International Monetary Fund (IMF).
FBR officials made it clear that people who make Rs50,000 per month would continue to receive tax exemptions. Anyone who makes Rs600,000 per year will not have their exemptions taken away.
The officials said that no discussions or plans are under way to remove this tax exemption, and the World Bank has not made any suggestions to impose income tax on people earning Rs600,000 per year.
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