Income vs. Payroll Tax: Which One Affects Your Wallet More?
Understanding the different types of taxes is essential, especially when it comes to how they directly affect your income. Two of the most common taxes you’ll encounter are income tax and payroll tax. Although these terms are often used interchangeably, they are distinct in how they are applied, how much they take from your paycheck, and how they are used by the government. This article dives deep into both types of income tax and payroll tax in Pakistan for 2024, helping you understand their differences and how each affects your wallet.