CRS News Flash 20 July 2023 – PAKISTAN – New tax rates published for 2023/2024

JULY 2023 – PAKISTAN

NEW TAX RATES PUBLISHED FOR 2023/2024
It is important that employers note the following:

Revised tax rates for salaried individuals published in the Finance Act 2023

Following the Pakistan Federal Budget Speech delivered on 9 June 2023 by the Minister for Finance and Revenue, the Finance Bill 2023 was enacted on 26 June 2023 by the President.

For the period 1 July 2023 to 30 June 2024 the Act modifies the personal income tax rates and brackets for salaried workers (who derive at least 75% of their income from salaries) as follows:

Flat increase of 2.5% in the tax rates applicable on salaried individuals earning more than Rs 2.4 million per annum, with highest slab rate of 35% starting from Rs 6 million per annum (previously Rs 12 million).

To view the Finance Act, 2023, follow the link.

 

Contact our legislation team on info@crs.co.za if you require any additional information.
ยฉ 2023 CRS Technologies (Pty)Ltd. All Rights Reserved.

Share the Post:
Scroll to Top

Book your CRS solutions demo or consultation


By submitting this form, you agree to our terms and conditions

Software products

Simplify payroll and HR management with our comprehensive solution suite.

HR software

Reshape the employer-employee dynamic.

Payroll software

Enhance accuracy and efficiency.

Performance management software

Nurture employee development.

Integration & Security

Connect with leading ERP platforms.

Global footprint

Weโ€™re active in 35 countries.

Our services

Grow your business while we take care of your human capital.

HR outsourcing

Transform HR into a strategic asset.

Payroll outsourcing

Simplify your payroll operations.

EOR & PEO

Expand your global reach.

Support channels

We keep your payroll and HR infrastructure running smoothly.

Service Desk & FAQ

Round-the-clock expert support paired with essential payroll and HR information.

HIPE4 Agreement

Global payroll and HR excellence defined.

Download Resources

Leverage expert insights that steer your strategic decision-making.

Downloads

Essential resources to improve your business practices.

News & Insights

Comprehensive coverage of key payroll and HR issues.

Company overview

CRS has been pioneering payroll and HR solutions for global organisations for over 40 years.

About us

Our custom payroll and HR solutions benefit employers and employees in more than 35 countries.

Work with us

Experience an environment where creativity, collaboration and empowerment thrive.