still a wide range debate in this area but almost of literature reviews mentioned certain perspective the developing countries most affected by taxation policies on corporate profit . in another hand . . the developed countries least affected or no impact .

Yes.

Tax policy in developing countries in general is somewhat unstable

Actually I don’t have exact information about Pakistan, but in general, the tax policy can affect corporate profitability in the way that taxes are levied on the profit of any business. This means that as the tax revenue increases, the corporate profitability decreases. For this reason, when tax rates are high, companies try to reduce their profits using many (il)legal ways in order to pay less taxes. On the other hand, and for the government, rising rates does not necessary translate into high tax revenues. As I mentioned earlier, when rates increase, companies may be tempted to reduce their profits leading to stable or decreasing revenue for the government.

I appreciate your valuable responses.