The Government Slashes Corporate Taxes
The government recently announced that it is reducing corporate taxes. The chairman for the Board of Investment Haroon Sharif announced recently that the government has decided to reduce the number of corporate taxes from 47 to 16. The move comes as the government is trying to implement the Prime Minister’s obsession with creating an open market and also to deliver on the promise of Ease of Doing Business he made with the people of the country before coming to power.
Pakistan is ranked at 136 on the index of Ease of Doing Business, and the current government hopes to bring it into the top 100 within the following 2 years, a move they hope will be accomplished by such incentives. Whether that happens or not is another thing altogether.
News Source: thenews