Search

FBR official clarifies reports about imposition of income tax on people earning Rs50,000 or less

10:35 PM | 30 Oct, 2023
FBR official clarifies reports about imposition of income tax on people earning Rs50,000 or less

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.

Daily Pakistan Global Web Desk

Advertisement

Pakistani rupee exchange rate against US dollar, Euro, Pound and Riyal – March 3, 2024

Pakistani rupee remains largely stable against USD and other currencies in the open market on March 3, 2024 (Sunday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.3 for buying and 282.45 for selling.

Euro currently stands at 302.5 for buying and 305.5 for selling while British Pound rate stands at 354 for buying, and 359 for selling.

UAE Dirham AED hovers at 76.3 whereas the Saudi Riyal saw slight increase, with new rates at 74.5.

Today’s currency exchange rates in Pakistan – March 3, 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar ‎USD 279.3 282.45
Euro EUR 302.5 305.5
UK Pound Sterling GBP 354 359
U.A.E Dirham AED 76.3 77
Saudi Riyal SAR 74.5 75.3
Australian Dollar AUD 181 183
Bahrain Dinar BHD 737.97 745.97
Canadian Dollar CAD 207 209.2
China Yuan CNY 38.82 39.22
Danish Krone DKK 40.23 40.63
Hong Kong Dollar HKD 35.7 36.05
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.1 2.18
Kuwaiti Dinar KWD 901.62 910.62
Malaysian Ringgit MYR 58.49 59.09
New Zealand Dollar NZD 168.97 170.97
Norwegians Krone NOK 26.54 26.84
Omani Riyal OMR 725.68 733.68
Qatari Riyal ‎QAR 76.74 77.44
Singapore Dollar SGD 207 209
Swedish Korona SEK 27.13 27.43
Swiss Franc CHF 314.07 316.57
Thai Bhat THB 7.74 7.89

Advertisement

Follow us on Facebook

Follow us on Twitter

Sign up for Newsletter