ISLAMABAD: A parliamentary committee on Saturday approved key changes to the Finance Bill 2025, including tax relief for low-income salaried workers, a lower super tax rate, and a higher cash withdrawal threshold for non-filers.
The National Assembly Standing Committee on Finance and Revenue, led by MNA Naveed Qamar, conducted a detailed clause-by-clause review of the Finance Bill 2025. This marked a shift from previous years when only one or two sessions were usually held.
The committee also examined amendments to the Islamabad Capital Territory (Tax on Services) Ordinance 2001 and recommended them for approval by the National Assembly.
One of the key proposals backed by the committee is a reduction in income tax from 2.5 percent to 1 percent for salaried individuals earning between Rs600,000 and Rs1.2 million per year. The committee also endorsed a 0.5 percent reduction in the super tax on the corporate sector.
