Pakistan Income Tax RatePakistan Income Tax Rate for Financial Year 2017-18 for salaried Individuals, Self employed persons, Sr. Citizen and Corporate / Companies.

 

 

INCOME TAX RATE FOR SALARIED INDIVIDUALS 2017-18

Taxable Income Slab Tax Rate
Upto Rs. 4,00,000 0%
Rs. 4,00,001 to Rs. 5,00,000 2%
Rs. 5,00,001 to Rs. 7,50,000 5%
Rs. 7,50,001 to Rs. 14,00,000 10%
Rs. 14,00,001 to Rs. 15,00,000 12.5%
Rs. 15,00,001 to Rs. 18,00,000 15%
Rs. 18,00,001 to Rs. 25,00,000 17.5%
Rs. 25,00,001 to Rs. 30,00,000 20%
Rs. 30,00,001 to Rs. 35,00,000 22.5%
Rs. 35,00,001 to Rs. 40,00,000 25%
Rs. 40,00,001 to Rs. 70,00,000 27.5%
Rs. 70,00,001 and above 30%

 

INCOME TAX RATE FOR SELF EMPLOYED INDIVIDUALS 2017-18

Taxable Income Slab Tax Rate
Upto Rs. 4,00,000 0%
Rs. 4,00,001 to Rs. 5,00,000 7%
Rs. 5,00,001 to Rs. 7,50,000 10%
Rs. 7,50,001 to Rs. 15,00,000 15%
Rs. 15,00,001 to Rs. 25,00,000 20%
Rs. 25,00,001 to Rs. 40,00,000 25%
Rs. 40,00,001 to Rs. 60,00,000 30%
Rs. 60,00,001 and above 35%

 

Exemptions and Deduction
- There is a provision for reduction of salary by a certain limit for the salaried person who is a senior citizen or a full time researcher or a teacher.

- 50% deductions, if the age of assessee is 60 years or more, a disabled person holding a National Database Registration Authority's Computerized National Identity Card for disabled persons and your taxable income does not exceed PKR 1 million, you can qualify for a 50% reduction in the gross tax.

- 40%  reduction on gross tax if the person is employed in a:
- A board of education or a university recognized by HEC, including government training and research institution
- Non-profit education or research institution duly recognized by HEC

 

INCOME TAX RATE FOR COMPANIES 2017-18

Description Tax Rate
Companies / Corporate Tax Rate 31%
Banking Company 35%
Small Company defined under Section 2 25%

 

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