According to The News, Pakistan has committed to draught Personal Income Tax (PIT) legislation until the end of the current month (February 2022) under the now-resumed International Monetary Fund (IMF) programme for slapping approximately Rs160 billion in tax on the salaried class by raising tax rates and reducing the number of slabs.
This PIT will be announced in the 2022-23 budget and will go into effect on July 1, 2022.
