Exemption from withholding taxes on import of plant & machinery for CPEC road project
SRO 735(I)/2016 is an Income Tax SRO dated 9 August 2016, listed by FBR as "Exemption from withholding taxes on import of plant & machinery for CPEC road project".
FBR publishes this SRO as scanned images, so the text below was transcribed by Qanoon Digest from the page images, with tables set out as tables. Check the official PDF before relying on any wording or figure.
Page 1
GOVERNMENT OF PAKISTAN
REVENUE DIVISION
FEDERAL BOARD OF REVENUE
Islamabad, the 9th August, 2016.
NOTIFICATION
(Income Tax)
S.R.O. 735 (I)/2016.- In exercise of the powers conferred by sub-section (2) of section 53 of the Income Tax Ordinance, 2001 (XLIX of 2001) and pursuant to the approval of the Economic Coordination Committee of the Cabinet contained vide No.13(10)-2013-Roads, dated the 2nd August, 2016 the Federal Government is pleased to direct that the following further amendment shall be made in the Second Schedule to the said Ordinance, namely:-
In the aforesaid Schedule, in Part IV, after clause (60), the following new clause shall be inserted, namely:-
"(60A) The provisions of section 148 of the Income Tax Ordinance, 2001 shall not apply for import of plant, machinery and equipment including dumpers and special purposes motor vehicles imported by the following for construction of Sukkur-Multan section of Karachi-Peshawar Motorway project and Karakorum Highway (KKH) Phase-II (Thakot to Havellian Section) of CPEC project respectively:-
(a) M/s China State Construction Engineering Corporation Ltd. (M/s CSCEC); and
(b) M/s China Communication Construction Company (M/s CCCC).".
[F.No.1(43)Rules & SROs/2016]
(Rehmatullah Khan Wazir)
Member (IR-Policy)/
Additional Secretary
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