The government has proposed to the IMF an adjustment in Personal Income Tax slabs from Rs. 500,000 to Rs. 720,000, aiming to provide relief to mid-level taxpayers affected by recent tax reforms, according to the President’s Media Division (PMD).
The proposal was made in light of the strong performance in tax revenue this year. The IMF has suggested modifications, offering greater relief to lower income brackets, similar relief to mid-level taxpayers, and slightly less to higher earners, while maintaining the core of the proposal.
