ISLAMABAD: The tax relief announced by the government for low income people in the budget 2018-19, was unprecedented in the budgetary history of the country, Finance Minister, Miftah Ismail Tuesday said.
Winding up the budget debate in the National Assembly, he said the relief would help low income people to spend more money on education of their children, get better healthcare and buy good quality food for their families.
He said during the current fiscal year, the people who earned Rs 80,000 per month had to pay Rs 63,000 income tax per annum, which had been reduced to zero in the budget 2018-19.
Similarly, the people getting Rs 150,000 per month income had to pay Rs204,500 in taxes annually, which had now gone down to just Rs 30,000 per annum.
And the people earning Rs300,000 monthly to pay Rs619,500 in tax annually, they would pay only Rs180,000 in tax during the next fiscal year.