The Pakistan Federal Board of Revenue has published three new ordinances dated 8 April 2018, including the Income Tax (Amendment) Ordinance, 2018, which provides new simplified individual income tax brackets/rates as follows effective from 1 July 2018: up to PKR 1.2 million – 0% over PKR 1.2 million up to 2.4 million – 5% over PKR 2.4 million up to 4.8 million – 10% over PKR 4.8 million – 15% For associations of persons, the brackets/rates are as follows: up to PKR 400,000 – 0% over PKR 400,000 up to 500,000 – 7% over PKR 500,000 up to 750,000 –...