KARACHI July 26, 2024: Salaried individuals in Pakistan are paying significantly higher taxes compared to their counterparts in India.
According to data shared on the social media handle of the Pakistan Business Council, Pakistani salaried person is paying more in taxes than those in India.
The data reveals that a person earning PKR 2.4 million annually in Pakistan pays PKR 230,000 in taxes, compared to just PKR 22,072 for someone earning the same amount in India.
During FY24, salaried individuals in Pakistan paid PKR 368 billion in taxes, which is a 39 percent increase from the PKR 264 billion paid in FY23. The budgeted tax collection from salaried individuals for FY25 is around PKR 453 billion, which is PKR 85 billion or 23 percent higher than the amount collected in FY24.
