Question 1

What is the difference between Tax Year 2027 and FY 2026-27 in Pakistan?

Accepted Answer

Under Section 74 of the Income Tax Ordinance 2001, Pakistan's financial year runs from 1 July 2026 to 30 June 2027 (FY 2026-27). The corresponding legal assessment period is named Tax Year 2027. They refer to the exact same twelve-month statutory tax period.

Question 2

Did Finance Act 2026 abolish the salaried tax surcharge?

Accepted Answer

Yes. Finance Act 2026 eliminated the progressive Section 4AB surcharge that was previously levied on high-bracket salaried income, standardising salaried tax strictly according to the eight progressive brackets in Division I, Part I of the First Schedule.

Question 3

Where can I calculate my individual or corporate tax under Tax Year 2027 rates?

Accepted Answer

You can use the browser-based interactive calculators on TaxCalc.pk for salary, rent, freelancer export, corporate tax, and property withholding tax.

Pakistan Tax Year 2027 (FY 2026-27) Master Reference Hub

Key Tax Year 2027 Statutory Rates

Editorial & Legal Verification