On 23 January 2019, Pakistan’s draft Finance Supplementary (Second Amendment) Bill, 2019 was submitted to the National Assembly. The main proposed tax amendments include:
- The tax on undistributed profits would be abolished (5% of the whole profits applicable in cases where profit distribution does not exceed 20% of profits) after tax year 2019;
- The tax on inter-corporate dividends in case of companies availing group relief would be reduced based on the percentage of shareholding the dividend…