Pakistan Budget 2015/16 Presented to Parliament

On 5 June 2015, the Pakistan Minister of Finance presented the 2015/2016 Budget to parliament. The main measures proposed are as follows:

• The corporate tax rate will be reduced to from 33% to 32%;
• The 15% tax credit for companies for listing on a registered stock exchange will be increased to 20%;
• The individual income tax rate for salaried taxpayers earning taxable income from PKR 400,000 to PKR 500,000 will be reduced from 5% to 2%, and the rate for non-salaried individual taxpayers and a…