Implementation of new budget begins, super tax on those earning Rs 500 million ends

The implementation of the federal budget for the new fiscal year 2026-27 announced by the federal government has begun, under which the current tax rate on income of Rs 183,000 per month or Rs 2.2 million per year has been maintained, while super tax has been abolished for those earning less than Rs 500 million per year.

According to officials, the implementation of the new federal budget has begun and the tax rate on income of Rs 183,000 per month or Rs 2.2 million per year has been maintained.

In the new budget, super tax has been abolished on annual income of Rs 500 million, before which super tax of one to 7.5 percent was levied on income of Rs 500 million.

Similarly, 8 percent super tax will now be levied on individuals or companies with income of more than Rs 500 million, before which the super tax rate was 10 percent on income of more than Rs 500 million, 10 percent super tax has been retained on some individuals and companies with annual income of more than Rs 150 million.

The federal government maintains a 10 percent super tax on banking and oil and gas exploration companies and a 10 percent super tax on those earning income from the sale of fertilizer.