Pakistan: Income Tax Amendment Ordinance, 2024 increases tax rate for banking sector

Ordinance was approved by the President and is effectively immediately

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December 30, 2024

The Income Tax Amendment Ordinance, 2024, which was approved by the President and is effective immediately, increases the tax rate for the banking sector from 39% to 44% beginning in 2025.

Read a December 2024 report prepared by the KPMG member firm in Pakistan

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