KARACHI: Raising the tax rate is not the right solution for enhancing revenue as it will discourage expansion and industrialization but the actual solution lies in broadening the tax net, Junaid Makda, President, Karachi Chamber of Commerce and Industry (KCCI) said in a statement on Saturday.
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Income Tax Ordinance 2001: Corporate tax rate to be reduced to 25pc
The government of Pakistan has undertaken a strategic initiative to gradually reduce corporate income tax rates, aiming to bring them down to 25% by the tax year 2023 and onwards.
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