Tax exemption in respect of International Sukuk Issuance under the Government of Pakistan Trust Certificate Issuance Program
SRO 1457(I)/2021Exemptions and concessions
SRO 1457(I)/2021 is an Income Tax SRO dated 11 November 2021, listed by FBR as "Tax exemption in respect of International Sukuk Issuance under the Government of Pakistan Trust Certificate Issuance Program".
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Government of Pakistan
Revenue Division
Federal Board of Revenue
Inland Revenue
*****
Islamabad, the 11 November, 2021.
Notification
(Income Tax)
S.R.O. 1457(1)/2021.- In exercise of the powers conferred by sub-section (2)
of section 53 of the Income Tax Ordinance, 2001 (XLIX of 2001), the Federal
Government, in its decision vide Case No. 1028/35/2021, dated the 27th October,
2021, is pleased to direct that the following further amendments shall be made in
the Second Schedule to the said Ordinance, namely:-
In the aforesaid Schedule, -
(0 in Part I, in clause (66), in sub-clause (1), in the Table 1, after S. No.
(lvi) and entry relating thereto, the following new S. No. and
corresponding entry relating thereto shall be added, namely:-
"(lvii) The Pakistan Global Sukuk Programme Company Limited.";
and
(ii) in Part IV,-
(a) for clause (95), the following shall be substituted, namely:-
"(95) The provisions of sections 147, 151, 152, 236A and
236K shall not apply to the Second Pakistan International Sukuk
Company Limited, the Third Pakistan International Sukuk
Company Limited and The Pakistan Global Sukuk Programme
Company Limited, as a payer.";
(b) for clause (96), the following shall be substituted, namely:-
"(96) The provisions of sections 151, 153, 155 and 236C shall
not apply to the Second Pakistan International Sukuk Company
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Limited, the Third Pakistan International Sukuk Company
Limited and the Pakistan Global Sukuk Programme Company
Limited, as a recipient"; and
(c) after clause (97), the following new clause shall be inserted,
namely:-
"(97A) The provisions of sections 37, 236C and 236K shall not
apply to National Highway Authority in respect of transfer of
immovable property to the Pakistan Global Sukuk Programme
Company Limited and in respect of transfer of immoveable
property to National Highway Authority from the Second
Pakistan International Sukuk Company Limited or the Pakistan
Global Sukuk Programme Company Limited.".
[F.No.4 (15711T-Budget/2020]
aq lal/reshi)
Additional Secretary
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