Pakistan, June 23 -- Finance Minister Muhammad Aurangzeb announced fresh tax measures in the National Assembly during his budget speech for FY2025-26. He introduced a 29% tax on income from the debt portion of mutual funds for companies. He also proposed a 20% tax on profits earned by corporations through government securities. Additionally, the poultry sector will now face a Rs10 Federal Excise Duty on each day-old chick to increase sector contribution to the national revenue.

Moreover, Aurangzeb confirmed tax relief for the salaried class and changes in pension tax rules. People earning between Rs600,000 and Rs1.2 million annually will now pay just 1% tax. Pensioners earning over Rs10 million will be taxed, but those above 75 years old...