Government cuts Corporate tax to 22% for domestic companies and new domestic manufacturing companies

President promulgates the Taxation Laws (Amendment) Ordinance 2019 to make certain amendments in the Income-tax Act, 1961 and the Finance (No. 2) Act 2019.

List of amendments:

  • Section 92 BA
  • Section 115 BA
  • Insertion of Sections 115 BAA [Tax on income of certain domestic companies] & Sections 115 BAB [Tax on income of certain new domestic manufacturing companies]
  • Section 115 JB
  • Section 115 QA
  • Amendment of Act No. 23 of 2019
  • Amendment of Part II of First Schedule

*Please follow the link for detailed notification: NOTIFICATION

Ministry of Law and Justice

[Notification dt. 20-09-2019]

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