Pakistan Budget 2017/18 Presented to Parliament

On 26 May 2017, Pakistan Minister of Finance Ishaq Dar presented the 2017/2018 Budget to parliament. The main tax-related measures are summarized as follows:

• Reducing the income tax rate for companies from 31% to 30% for the 2018 tax year (already planned);
• Introducing a three-year tax exemption for qualifying start–ups with annual turnover up to PKR 100 million that have been registered and certified by the Pakistan Software Export Board (PSEB) as an information technology entity engaged in…