Amendment And Deemed To Have Been So Made On 1st July, 1999

GOVERNMENT OF PAKISTAN (Revenue Division) Islamabad, the 16th September, 1999 (Income Tax) S.R.O. 1046(I)/99.-- In exercise of the powers conferred by sub-section (2) of section 14 of the Income Tax Ordinance, 1979 (XXXI of 1979), the Federal Government is pleased to direct that in the Second Schedule to the said Ordinance the following further amendment shall be made and shall be deemed to have been so made on the 1st July, 1999, namely :- In the aforesaid Schedule, in Part IV, in clause (37A), for the full stop, at the end, a colon shall be substituted and thereafter the following proviso shall be added namely :- "Provided that -- (a) the manufacturer-cum-exporter shall deduct tax payments made in respect of goods sold in Pakistan; (b) if tax has not been deducted from payments on account of supply of goods in respect of goods sold in Pakistan, the tax shall be paid by the manufacturer-cum-exporter, if the sales in Pakistan are in excess of five per cent of export sales; and (c) nothing contained in this clause shall apply to payments made on account of purchase of the goods in respect of which special rates of tax deduction have been specified in exercise of the powers under clause (c) of sub-section (4) of section 50 of the Income Tax Ordinance, 1979. ASAD ARIF Member (Income Tax)/Additional Secretary