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President Promulgates Taxation Laws (Amendment) Ordinance, 2019 - (23 Sep 2019)


President has promulgated the Taxation Laws (Amendment) Ordinance 2019 to bring into effect the slew of corporate tax rate cuts announce by the Government. The Ordinance amends the Income Tax Act, 1961 and the Finance (No. 2) Act, 2019 to give any domestic company an option to pay income tax at the rate of 22% subject to condition that it will not avail itself of any exemption or incentive.


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