Incentive Data

Exemption of Income tax for Zone Developers.

  1. 53. Exemptions and tax concessions in the Second Schedule.—(1) The income or classes of income, or persons or classes of persons specified in the Second Schedule shall be

(a) exempt from tax under this Ordinance, subject to any conditions and to the extent specified therein;

            (126EA) Profits and gains derived by—

            (a) zone developer as defined in section 2 of the Special Technology Zones      Authority Ordinance, 2020 from development and operations of the zones for a   period of ten years starting from the date of signing of the development       agreement; 

  1. Income, or classes of income, or persons or classes of persons, enumerated below, shall be exempt from the operation of such provisions of this Ordinance, subject to such conditions and to the extent, as are specified hereunder:-

(60DA) The provisions of section 148 shall not apply to the import of the capital equipment as defined in section 2 of the Special Technology Zones Ordinance 2020 (XIII of 2020) by—

(a) zone developers as defined in section 2 of the Special Technology Zones Ordinance 2020 for consumption in the special technology zones for the period of 10 years commencing from the date of signing the development agreement; 

Sources:

  1. Section 126EA, para (a), Part I of the Second Schedule, under section 53 of the Income Tax Ordinance 2001.
  2. Section 60DA, para (a), Part IV of the Second Schedule of the Income Tax Ordinance 2001

https://download1.fbr.gov.pk/Docs/20217141672549772IncomeTaxOrdinanceAmendedupto30.06.2021.pdf