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Simple summary of the tax changes for 2025/2026 tax year
Reductions
Tax free threshold raised to Rs. 1.8 Million from Rs. 1.2 Million
Tax Rate of 12% halved to 6% for Rupee income
Withholding Tax Rate increased to 10% on Interest Income
Increases
Foreign Income is now charged at 15% maximum (no longer exempt income for tax)
Rs. 1.8 Million to Rs. 2.8 Million in foreign income only is taxed at 6%
Saving Opportunity
Allocation of the tax free threshold can save Rs. 378,000 in 25/26
Higher saving of Rs. 504,000 in 25/26 by correct allocation of solar relief + tax free threshold
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