The 2015/2016 Budget was approved by the Pakistan parliament on 23 June 2015 and has received assent of the President as Finance Act, 2015. The main measures in the Budget include:
- The corporate tax rate is reduced to from 33% to 32%;
- The 15% tax credit for companies listing on a registered stock exchange is increased to 20%;
- The individual income tax rate for salaried taxpayers earning taxable income from PKR 400,000 to PKR 500,000 is reduced from 5% to 2%, and the rate for non-salaried ind…