NA panel okays tax relief for salaried people

A parliamentary committee on Saturday approved key amendments to the Finance Bill 2025, including tax relief for low-income salaried individuals, a reduction in the super tax rate, and an increase in the cash withdrawal threshold for non-filers. The National Assembly Standing Committee on Finance and Revenue, chaired by MNA Naveed Qamar, carried out a clause-by-clause review of the Finance Bill 2025 — a departure from previous years when only one or two sessions were typically held. The committee also reviewed amendments to the Islamabad Capital Territory (Tax on Services) Ordinance 2001, and recommended their approval by the National Assembly. A major proposal endorsed by the committee is the reduction of the income tax rate from 2.5pc to 1pc for salaried individuals earning between Rs600,000 and Rs1.2m annually. Additionally, the committee supported a 0.5pc cut in the super tax on the corporate sector.