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Budget for 2008 – highlights

|Approved Changes|Pakistan
Pakistan

The Budget for the fiscal year 2008/09 was presented on 11 June 2008. The Budget proposals will largely take effect from 1 July 2008 upon their enactment (unless indicated otherwise). The following are some of the more significant proposals:

Direct taxes

  • The minimum tax payable of 0.5% on declared turnover by companies will be withdrawn.
  • First-year accelerated depr…

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