person engaged in the business of shipping who qualifies for application of reduced rate of tax
SRO 248Exemptions and concessions
SRO 248 is an Income Tax SRO dated 5 January 2003, listed by FBR as "person engaged in the business of shipping who qualifies for application of reduced rate of tax".
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GOVERNMENT OF PAKISTAN
(REVENUE DIVISION)
CENTRAL BOARD OF REVENUE
*****
Islamabad, the 5th January, 2003.
NOTIFICATION
(Income Tax)
S.R.O. 248 (I)/2003.- 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 is pleased to direct that the following further amendment shall be made in the Second Schedule to the aforesaid Ordinance, namely:-
In the aforesaid Schedule, in Part IV, after Clause (22), the following
new clause shall be inserted, namely:-
“(22A) The provision of section 113 shall not apply to a resident person engaged in the business of shipping who qualifies for application of reduced rate of tax on tonnage basis as final tax under clause (21) of Part-II of this Schedule.”
No.(7A)(II)(I)-E&IC/97
(VAKIL AHMAD KHAN)
Member (Direct Taxes)/Additional Secretary
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