Increased taxes on the salaried class may compel more skilled Pakistanis to emigrate from the country

It seems like you’re asking for the details of the income tax slabs proposed by the federal government in Pakistan’s budget for 2024-25. Here is the breakdown of the income tax slabs as per the information available:

1. Up to Rs. 600,000: No tax

2. From Rs. 600,001 to Rs. 1,200,000: 5% of the amount exceeding Rs. 600,000

3. From Rs. 1,200,001 to Rs. 2,400,000: Rs. 30,000 + 10% of the amount exceeding Rs. 1,200,000

4. From Rs. 2,400,001 to Rs. 4,800,000: Rs. 150,000 + 15% of the amount exceeding Rs. 2,400,000

5. From Rs. 4,800,001 to Rs. 9,600,000: Rs. 510,000 + 20% of the amount exceeding Rs. 4,800,000

6. From Rs. 9,600,001 to Rs. 24,000,000: Rs. 1,410,000 + 25% of the amount exceeding Rs. 9,600,000

7. Above Rs. 24,000,000: Rs. 4,410,000 + 35% of the amount exceeding Rs. 24,000,000

Read More: PM Orders No Tax Hike On Cash Withdrawals For Non-Filers

These slabs represent the proposed income tax rates for salaried individuals in Pakistan for the fiscal year 2024-25. The concern expressed by the Pakistan Business Council (PBC) likely stems from the impact of these tax changes on emigration trends among highly skilled professionals, who may seek lower-tax environments elsewhere due to these increased rates.