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Tax Laws (Amendment) Ordinance, 2019, as published 2019

This is the Tax Laws (Amendment) Ordinance, 2019, as published by the Federal Board of Revenue in 2019. It runs to 5 pages and contains 4 sections.

Transcribed from page images. This document had no text layer, so its 5 pages were read and transcribed from the scanned images. Check figures, dates and tables against the official PDF before relying on them.

What this document is

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File name	`Tax Laws (Amendment) Ordinance, 2019.pdf`
Pages	5
Size	1.19 MB
Text extraction	Transcribed from page images
Extraction confidence	medium
Position in this collection	5 of 14

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The full text of this document

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1. Short title and commencement

(1) This Ordinance may be called the Tax Laws (Amendment) Ordinance, 2019.

(2) It shall come into force at once.

2. Amendment of the Customs Act, 1969 (Act IV of 1969)

In the Customs Act, 1969 (IV of 1969), in the First Schedule, in Chapter 99, in sub-chapter V, in column (1), against PCT Code 9917,-

(i) in column (2), in paragraph (3), the following amendment shall be made, namely:-

(a) in sub-paragraph (i), for the word “and”, occurring for third time, the expression “, including Gwadar International Terminals Limited and Gwadar Marine Services Limited and their” shall be substituted;

(b) in sub-paragraph (ii), for the words, “the ships used in the port and its terminals”, the words “all visiting ships including foreign and local and fishing vessels at Gwadar Port”, shall be substituted; and

(iv) Imports by the following businesses to be established in the Gwadar Free Zone Area for a period of 23 years with effect from 1st July, 2016, packaging, distribution, stuffing and de-stuffing, CFS, container yard, warehousing including cool and cold rooms, transshipment, labeling, light end assembly and re-assembly, imports and exports/value added exports, value adding of imports, other similar or related businesses activities and such commercial activities as are required to support the free zone.“.

3. Amendments of the Sales Tax Act, 1990

In the Sales Tax Act, 1990, the following further amendments shall be made, namely:-

(1) In the Fifth Schedule, in the Table, in column (1) after Serial Number 12 and the entries relating thereto in column (2), the following new Serial Numbers and entries relating thereto shall be added, namely:-

(2) In the Sixth Schedule,-

(a) in Table-1, in column (1),-

(i) against Serial Number 100A, in column (2),-

(A) after the words “Gwadar Port”, occurring for the third time, the expression, “by the aforesaid operating companies” shall be inserted; and

(B) under “Conditions and procedure for imports”, in condition (iii),-

(I) after the word “imported”, the expression “and also those already imported under Notification No.115(I)/2008, dated 6th February, 2008,” shall be inserted; and

(II) for the words “time of import”, the words “applicable rate on residual value” shall be substituted; and

(ii) after Serial Number 100C and entries relating thereto in columns (2) and (3), the following new Serial Number and entries relating thereto shall be added, namely:-

4. Amendment of Income Tax Ordinance, 2001 (XLIX of 2001)

In the Income Tax Ordinance, 2001 (XLIX of 2001), in the Second Schedule, in Part I,-

(a) in clause (126A), after the words “Gwadar Port”, the words “and Gwadar Free Zone” shall be inserted;

(b) in clause (126AB), in paragraph (b), after the expression “China Overseas Ports Holding Company Limited,”, the expression “China Overseas Port Holding Company Pakistan (Private) Limited, Gwadar International Terminals Limited, Gwadar Marine Services Limited and Gwadar Free Zone Company Limited” shall be inserted; and

[signature] DR. ARIF ALVI, President