The Federal Board of Revenue (FBR) has announced the tax rates for the filers and non-filers categories, effective from July 1, 2023, to June 30, 2024.
According to the FBR’s notification, filers will be subject to a tax rate of 15% on prize bonds, while non-filers will face a higher rate of 30%. Similarly, the tax rate on savings account profits for filers has been increased to 15%, compared to the previous rate of 10% in the current fiscal year. Non-filers in this category will be subject to a tax rate of 30%.
In the case of rental income, tax rates of 5% to 15% will apply to filers, whereas non-filers will face a tax rate of 10% to 15% in the ongoing financial year. Bonus shares will be taxed at a rate of 10% for filers and 20% for non-filers.
For property auctions, tax filers will be charged a rate of 5%, while non-filers will pay 10%. Motor vehicle leasing will be tax-free for filers but subject to a 12% tax for non-filers.
Motor vehicle registration will incur a tax ranging from Rs10,000 to Rs0.5 million based on engine capacity for filers, whereas non-filers will face a higher rate of Rs30,000 to Rs1.5 million. Token tax on vehicles for filers will range from Rs800 to Rs10,000, while non-filers will pay Rs1,600 to Rs20,000.
Commission earnings will be taxed at 12% for filers and 24% for non-filers. Filers will not be subject to tax on banking transactions, whereas non-filers will face a rate of 0.6%. International transactions through debit cards will be taxed at 2% for filers and 10% for non-filers.
Property transactions will be taxed at a rate of 2% for filers and 7% for non-filers. Specific services will incur a tax of 3% for filers and 6% for non-filers, while general services will be taxed at 7% for filers and 14% for non-filers.