On 27 April 2018, Pakistan Minister of Finance Miftah Ismail presented the 2018/2019 Budget to parliament. The main tax-related measures are summarized as follows:
- New tax brackets and rates for individuals and associations of persons (already implemented via Income Tax (Amendment) Ordinance, 2018 – {News-2018-04-12/A/2-previous coverage});
- A reduction in the corporate tax rate from 30% to 29% for the 2018/19 tax year, followed by an additional 1% reduction per year until reaching 25% from t…