Pakistan's Federal Board of Revenue has published the Finance Act 2020, which received the assent of the President (was enacted) on 30 June 2020. The Finance Act 2020 contains the measures of Pakistan's Budget 2020-2021, presented on 12 June 2020. The measure of the Act came into force on 1 July 2020, unless otherwise specified.
New Interest Restriction Rules
One of the key tax measures is the introduction of a new restriction on the deduction of foreign profit on debt (interest) payable…