On 11 June 2019, Pakistan's 2019/2020 Budget was presented to parliament. The main income tax-related proposals are summarized as follows: Increase the taxable income threshold to INR 600,000 for salaried persons and introduce 11 progressive rate brackets of 5% to 35%, and maintain the taxable income threshold at INR 400,000 for non-salaried persons and introduce 8 progressive rate brackets of 5% to 35%; Maintain the corporate income tax rate at 29% for the next two years, instead of the 1% per year reduction as currently scheduled; Amend the current exclusion of brought forward depreciation and business losses for computing income...