On 3 June 2016, Pakistan Minister of Finance Ishaq Dar presented the 2016/2017 Budget to parliament. The main tax-related measures are as follows:
- The corporate tax rate will be reduced to from 32% to 31%;
- Alternate corporate tax (17% of accounting), which is currently paid with the annual return when applicable, will be amended so that it may be paid in four advance payments as with standard corporate tax;
- The minimum tax (1% on turnover) exemption for companies declaring a gross loss will …