ISENÇÕES DO INGRESO TOTAL Os rendimentos, as classes de renda ou as pessoas ou classes de pessoas, enumeradas abaixo, estarão isentos de imposto, sujeito às condições e na extensão especificadas abaixo: Cláusula (1) omitida pela Lei de Finanças de 2003 que anteriormente Leia o seguinte: quot (1) Qualquer renda imputável sob o título quotSalaryquot recebido por qualquer pessoa que seja um funcionário do International Irrigation Management Institute (IIMI) no Paquistão, que não é cidadão do Paquistão nem um residente em nenhum dos quatro Anos imediatamente anteriores ao ano em que chegou no Paquistão. (2) Qualquer rendimento imputável sob o título quotSalaryquot recebido por qualquer pessoa que não seja cidadão do Paquistão ou pessoa residente ou seja devido a uma remuneração por serviços prestados por Ele como um profissional de saúde sob o contrato de serviço concluído com o Shaukat Khanum Memorial Hospital e Research Center, Lahore, e aprovado pelo Governo Federal para os fins deste c Lause. (3) Qualquer renda imputável sob o título quotSalaryquot recebido por uma pessoa que, não sendo cidadão do Paquistão, é contratada como especialista ou consultora técnica, profissional, científica ou consultora ou equipe de alto nível por instituições da Rede de Desenvolvimento de Agha Khan, (Paquistão) listados no Anexo I do Acordo e Protocolo datados de 13 de novembro de 1994, firmados entre o Governo da República Islâmica do Paquistão e a Rede de Desenvolvimento de Agha Khan. (4) Qualquer rendimento imputável a título de título Salário recebido por um marinheiro paquistanês que trabalha em um navio estrangeiro ou em navios da bandeira do Paquistão durante 183 dias ou mais durante um ano fiscal desde que tal seja entregue ao Paquistão, o mais tardar dois meses após a Ano de renda relevante, através de canais bancários normais. (5) Qualquer subsídio ou requisito pago ou permitido como tal fora do Paquistão pelo governo a um cidadão do Paquistão por prestar serviço fora do Paquistão. (6) Qualquer rendimento exigível sob o título Salário recebido por uma pessoa, não sendo cidadão do Paquistão, em virtude do seu emprego no British Council. (8) Qualquer pensão recebida por um cidadão do Paquistão de um antigo empregador, exceto quando a pessoa continua trabalhando para o empregador (ou um associado do empregador). Desde que a pessoa que recebe mais de uma dessas pensões, a isenção se aplica apenas ao maior das pensões recebidas. (I) recebido em relação aos serviços prestados por um membro das Forças Armadas do Paquistão ou do Governo Federal ou de um Governo Provincial (ii) concedido de acordo com as regras relevantes às famílias e dependentes de servidores públicos ou membros das Forças Armadas do Paquistão que Morrer durante o serviço. Antes da substituição pela Lei Financeira Bill 2006 (9), leia o seguinte: - (9) Qualquer pensão recebida em relação a qualquer serviço prestado por um membro das Forças Armadas do Paquistão ou como funcionário do Governo Federal ou de um Governo provincial. Cláusula (10) omitida pelo Finance Bill 2006, que anteriormente dizia o seguinte: (10) Qualquer pensão concedida a qualquer funcionário público a quem a cláusula (14) não se aplica aos danos recebidos no desempenho de suas funções. Cláusula (11) omitida pelo Finance Bill 2006, que anteriormente dizia o seguinte: (11) Qualquer pensão concedida a qualquer funcionário público a quem a cláusula (15) não se aplica, que tenha sido invalidada do serviço por qualquer deficiência física. (12) Qualquer pagamento com a natureza da comutação da pensão recebida do Governo ou sob qualquer regime de pensão aprovado pelo Conselho Central de Receita para efeitos desta cláusula. (13) Qualquer rendimento que represente qualquer pagamento recebido por gratificação ou comutação de pensão por parte de um trabalhador em sua aposentadoria ou, no caso de sua morte, por seus herdeiros, que não exceda - (i) no caso de um empregado de O governo, uma autoridade local, um órgão estatutário ou corporação estabelecido por qualquer lei vigente, o valor a receber de acordo com as regras e condições dos serviços dos empregados (ii) qualquer valor a receber de qualquer fundo de gratuidade aprovado pelo Comissário de acordo com as regras da Parte III do Sexto Anexo (iii) no caso de qualquer outro funcionário, o montante não superior a duzentos mil rúpias a receber de acordo com qualquer regime aplicável a todos os empregados do empregador e aprovado pelo Conselho Central de Receita para os fins desta sub-cláusula e (iv) no caso de qualquer empregado a quem a sub-cláusula (i), (ii) e (iii) não se apliquem, cinquenta por cento do valor a receber ou setenta e cinco Mil rupias, qualquer que seja É menor: desde que nada nesta sub-cláusula se aplique: (a) a qualquer pagamento que não seja recebido no Paquistão (b) a qualquer pagamento recebido de uma empresa por um diretor dessa empresa que não seja um empregado regular de Tal empresa (c) a qualquer pagamento recebido por um empregado que não seja um residente e a qualquer gratificação recebida por um empregado que já tenha recebido qualquer gratificação do mesmo ou de qualquer outro empregador. Cláusulas (14) amp (15) omitidas pelo Finance Bill 2006, que anteriormente dizia o seguinte: (14) Qualquer pensão concedida ao pessoal das Forças Armadas do Paquistão (incluindo pessoal da Força Territorial e do Serviço Nacional do Paquistão) em relação a Lesões recebidas no desempenho de suas funções como tal. (15) Qualquer pensão concedida ao pessoal das Forças Armadas do Paquistão (incluindo o pessoal da Força Territorial e do Serviço Nacional do Paquistão) invalida do serviço com tais Forças por incapacidade corporal atribuível ou agravada por esse serviço. (16) Qualquer rendimento derivado das famílias e dependentes do quotShaheedsquot pertencente às Forças Armadas do Paquistão da pensão familiar especial, pensão para dependentes ou subsídio para crianças concedido nos termos da Instrução de Serviços Conjuntos nº 566. (17) Qualquer rendimento derivado por As famílias e dependentes do quotShaheedsquot pertencentes às Forças Armadas Civis do Paquistão a quem as disposições da Instrução Conjunta nº 566 teriam aplicado se pertencessem às Forças Armadas do Paquistão de qualquer pagamento similar feito a eles. Cláusula (18) omitida pelo Finance Bill 2006, que anteriormente dizia o seguinte: (18) As pensões concedidas nos termos das regras aplicáveis às famílias e dependentes de servidores públicos ou membros das Forças Armadas do Paquistão que morrem durante o serviço. (19) Qualquer soma que represente o pagamento de licença preparatória para a aposentadoria de um membro das Forças Armadas do Paquistão ou de um funcionário do Governo Federal ou de um Governo provincial. (20) Qualquer renda recebida por uma pessoa de uma anuidade emitida no âmbito do regime de certificado de anuidade postal do Paquistão em ou após 27 de julho de 1977, não excedendo dez mil rúpias por ano. (21) Qualquer renda recebida por uma pessoa de uma anuidade ou rendas emitidas (inserido pela Lei de Finanças de 2005 até 30 de junho de 2005) pela Sociedade Estadual de Seguros de Vida do Paquistão ou por uma companhia de seguros de vida registrada nos termos da seção 3 da Ordem de seguro, 2000 (XXXIX de 2000): desde que essa cláusula não se aplique tanto a renda recebida por uma pessoa de uma anuidade ou anuidades que, juntamente com o rendimento de qualquer anuidade ou anuidade referida na cláusula (20) , Excede dez mil rúpias por ano. (22) Qualquer pagamento de um fundo de previdência para o qual se aplica a Lei de Fundos de Previdência, 1925 (XIX de 1925). (23) O saldo acumulado devido e tornando-se pagável a um empregado que participa de um fundo de previdência reconhecido. (23A) O saldo acumulado até 25 recebido do sistema de pensão voluntário oferecido por um gestor de fundos de pensões de acordo com as Regras do Sistema de Previdência Voluntária, 2005, no momento das pessoas elegíveis: - (a) aposentadoria ou (b) incapacidade que o torna incapaz de trabalhar Ou (d) morte por seus sobreviventes nomeados. (24) Qualquer subvenção benevolente paga do Fundo Benevolente aos empregados ou membros de suas famílias de acordo com as disposições do Fundo Central de Beneficiário do Empregado e da Lei de Seguros de Grupo, 1969. (25) Qualquer pagamento de um fundo de aposentadoria aprovado feito no Morte de um beneficiário ou em substituição ou em comutação de uma anuidade, ou por meio do reembolso da contribuição sobre a morte de um beneficiário - (i) no caso de um funcionário do governo ou de uma autoridade local ou de um órgão estatutário ou Corporação estabelecida por qualquer lei vigente, o valor a receber de acordo com as regras e condições de seu serviço (ii) qualquer valor a receber de qualquer fundo de gratificação aprovado pelo Comissário de acordo com as regras contidas na Parte III da Sexta Classificação (iii) no caso de qualquer outro empregado, o montante não superior a duzentos mil rúpias a receber de acordo com qualquer regime aplicável a todos os empregados do empregador e aprovado pelo Javali Central D da Receita para os fins desta sub-cláusula e (iv) no caso de qualquer empregado a quem as sub-cláusulas (i), (ii) e (iii) não se apliquem, cinquenta por cento do valor a receber ou setenta - cinco milhões de rupias, o que for menor: desde que nada nesta subcláusula se aplique (a) a qualquer pagamento que não seja recebido no Paquistão (b) a qualquer pagamento recebido de uma empresa por um diretor dessa empresa que seja Não é um empregado regular dessa empresa (c) para qualquer pagamento recebido por um empregado que não é residente no Paquistão e (d) a qualquer gratificação recebida por um empregado que já recebeu qualquer gratificação do mesmo ou de qualquer outro empregador. (26) Qualquer rendimento de uma pessoa que represente os montantes recebidos por ele como trabalhador de fora do Fundo de Participação dos Trabalhadores estabelecido nos termos da Lei de Lucros das Companhias (Participação dos Trabalhadores), 1968 (XII de 1968). Cláusulas (33) amp (34) omitidas pela Lei de Finanças de 2003, que anteriormente dizia o seguinte: quot (33) Qualquer renda de qualquer funcionário que represente a quantia recebida por ele como Subsídio por ordem admissível para ele sob a Divisão de Finanças O. M. No. F.1 (3) - IMP-II85, datado de 24 de outubro de 1985. (34) Qualquer rendimento de um empregado de uma universidade reconhecida no Paquistão que represente os montantes recebidos por ele como Subsídio por ordem admissível nos termos e condições de O seu serviço. (35) Qualquer rendimento que represente um subsídio compensatório pagável a um cidadão do Paquistão recrutado localmente no Paquistão Missão no estrangeiro, que não exceda 75 por cento do seu salário bruto. Cláusula (36) omitida pela Lei de Finanças de 2003, que anteriormente dizia o seguinte: quot (36) Qualquer rendimento de um funcionário que represente a quantia recebida por ele como Subsídio de Pessoal Pessoal admissível por ele sob o Secretariado do Gabinete (Divisão de Estabelecimento) Memorando do Escritório No. 18278-CV, datado de 13 de julho de 1978.qual Cláusula (38) omitida pelo Finance Bill 2006, que anteriormente dizia o seguinte: (38) Qualquer quantia paga, para atender às tarifas de gás, água e eletricidade, ou o valor De gás, água e eletricidade gratuitamente para um empregado até dez por cento da escala mínima de tempo e onde não há escala de tempo, até dez por cento do salário básico. (39) Qualquer subsídio ou benefício especial (não sendo o subsídio de entretenimento ou de transporte) ou outro requisito, na acepção da seção 12, especialmente concedido para atender às despesas inteiramente e necessariamente incorridas no desempenho das funções de um escritório ou emprego de lucro. (40) Qualquer rendimento de um funcionário do jornal que represente o Subsídio de Viagem Local pago de acordo com a decisão do Terceiro Conselho de Salários para Funcionários de Jornal constituído nos termos da Lei de 1973 sobre os Funcionários do Jornal (Condições de Serviço), publicado na Parte II da Gazeta do Paquistão Extraordinário, datado de 28 de junho de 1980. Cláusula (41) omitida pela Lei de Finanças de 2003, que anteriormente dizia o seguinte: (41) Tal parcela do rendimento de um membro das Forças Armadas do Paquistão como obrigatoriamente pagável por ele sob qualquer Ordens emitidas pelo governo para bagunça, entretenimento ou fundo de faixa. As cláusulas (42) a (49) foram omitidas pelo Finance Bill 2006, que anteriormente dizia o seguinte: (42) Qualquer quantia recebida como subsídio de voo por pilotos, engenheiros de vôo e navegadores empregados por Qualquer companhia aérea paquistanesa ou pela Autoridade de Aviação Civil. (43) Qualquer montante notificado como subsídio de voo a pagar aos pilotos, engenheiros de voo e navegadores da Força Aérea do Paquistão. (44) Qualquer montante notificado como subsídio de voo a pagar aos pilotos, engenheiros de voo e navegadores do Exército do Paquistão e da Marinha do Paquistão. (45) Qualquer montante recebido como subsídio de voo por oficiais júnior comissionados ou outras fileiras das Forças Armadas do Paquistão. (46) Qualquer montante notificado como subsídio submarino a pagar aos oficiais da Marinha do Paquistão. (47) O valor das rações emitidas em espécie, ou subsídio em dinheiro pago em vez disso, aos membros das Forças Armadas do Paquistão ou das Forças Territoriais. (48) O valor dos bairros sem aluguel ocupados por, ou subsídio em dinheiro pago em vez disso, aos membros das Forças Armadas do Paquistão, incluindo a Força Territorial. (49) O subsídio de conservação concedido em vez da conservação gratuita ao pessoal abaixo do mandato comissionado das Forças Armadas do Paquistão e da Força Territorial. Cláusula (50) omitida pela Lei de Finanças de 2003, que anteriormente dizia o seguinte: quot (50) Pagamento diferido admissível ao pessoal das Forças Armadas sob o novo Código de Pagamento. (51) O requisito representado pelo direito do Presidente do Paquistão, Governadores provinciais e Chefes de Estado-Maior, Forças Armadas do Paquistão para ocupar livre de aluguel como local de residência todas as instalações fornecidas pelo Governo. (52) O requisito representado pelo transporte gratuito fornecido e o subsídio suntuário (entretenimento) concedido pelo Governo aos Governadores provinciais, aos Chefes de Estado Maior, às Forças Armadas do Paquistão e aos Comandantes do Corpo. (53) Os seguintes benefícios e subsídios concedidos ou concedidos pelo Governo aos Ministros do Governo Federal, a saber: - (a) acomodação sem aluguel na medida em que o valor exceda dez por cento do vencimento-base dos Ministros em questão (B) subsídio de aluguel de casa pago pelo governo em vez de acomodação sem aluguel, na medida em que exceda as quinhentas e cinquenta rupias por mês; (c) transporte gratuito e (d) subsídio sumptuar. (53A) Os seguintes benefícios recebidos por um empregado em virtude do seu emprego, a saber: (i) passagem gratuita ou concessional fornecida por transportadores, incluindo companhias aéreas para seus funcionários (incluindo os membros da família e dependentes) (ii) alimentos gratuitos ou subsidiados Fornecidos por hotéis e restaurantes aos seus funcionários durante o horário de serviço (iii) educação gratuita ou subsidiada fornecida por uma instituição educacional aos filhos de seus funcionários (iv) tratamento médico gratuito ou subsidiado fornecido por um hospital ou uma clínica aos seus funcionários e (v ) Qualquer outro requisito ou benefício para o qual o empregador não tem que suportar qualquer custo marginal, conforme notificado pelo Conselho Central de Receita. (55) Os perquisitos representados pelo direito de um juiz da Suprema Corte do Paquistão ou de um juiz da Suprema Corte de ocupar livre de aluguel como local de residência, qualquer local previsto pelo Governo Federal ou Provincial, conforme o caso, Ou no caso de um juiz optar por residir em uma casa não fornecida pelo Governo, tanto do rendimento que representa a soma paga a ele como subsídio de aluguel de casa. (56) Os seguintes benefícios, benefícios e subsídios recebidos por um juiz do Supremo Tribunal do Paquistão e juiz da Suprema Corte, ficam isentos de imposto. (A) Períodos e benefícios derivados do uso do carro oficial mantido nas despesas do governo. (B) Subsídio judicial superior a pagar a um juiz do Supremo Tribunal do Paquistão e juiz do Supremo Tribunal. (C) Subsídio de transferência a pagar a um juiz da Suprema Corte. (2) Os seguintes benefícios do juiz do Supremo Tribunal do Paquistão e do juiz da Suprema Corte também estão isentos de imposto durante o serviço e após a aposentadoria. (A) Os serviços de um condutor e um ordenado. (B) 1000 (mil) chamadas telefônicas locais gratuitas por mês. (C) 1000 unidades de eletricidade, bem como (25 hm3 de gás) por mês e fornecimento gratuito de água e (d) 200 litros de gasolina por mês. (3) Se, durante o serviço, um juiz morrer, a isenção de imposto sobre benefícios e benefícios fornecidos à viúva, conforme mencionado na subcláusula (2), também estará disponível para a viúva. (1) Qualquer renda de contribuições voluntárias, propriedades de casas e investimentos em valores mobiliários do Governo Federal derivadas do seguinte, a saber: - (i) Fundo de Investimento Nacional (Unidade) do Paquistão estabelecido pelo National Investment Trust Limited, se não inferior a Noventa por cento das suas Unidades no final desse ano são detidas pelo público e pelo menos noventa por cento da sua receita do ano é distribuída entre os Conselheiros (ii) qualquer Fundo de Bolsa de Valores aprovado pela Comissão de Valores Mobiliários Do Paquistão e criado pela Corporação de Investimentos do Paquistão, se pelo menos noventa por cento dos seus Certificados no final desse ano forem detidos pelo público e pelo menos noventa por cento do seu rendimento desse ano é distribuído entre os Titulares de certificados e (iii) Sheikh Sultan Trust, Karachi. (2) Qualquer renda derivada de qualquer Fundo de Investimento, sociedade de investimento ou um esquema de investimento coletivo ou um fundo de investimento imobiliário ou Private Equity e Venture Capital Fund aprovado pela Securities and Exchange Commission ou o National Investment (Unit) Trust of Pakistan estabelecido Pelo National Investment Trust Limited de qualquer instrumento de capital resgatável conforme definido no Portão de Sociedades, 1984 (XLVII de 1984), se pelo menos noventa por cento dos seus rendimentos desse ano forem distribuídos entre os detentores de Unidades. (3) Qualquer renda dos seguintes fundos e instituições, a saber: - (i) um fundo de previdência para o qual a Lei de Fundos de Previdência, 1925 (XIX de 1925), aplica-se (ii) curadores em nome de um fundo de previdência reconhecido ou aprovado Fundo de aposentadoria ou um fundo de gratificação aprovado (iii) um fundo benevolente ou plano de seguro de grupo aprovado pelo Conselho Central de Receita para os fins desta cláusula (iv) Fundo de Serviço (v) Funcionários Instituição de Benefícios de Velhice estabelecida nos termos do Benefício de Velhice de Empregados Acto, 1976 (XIV de 1976) (vi) qualquer Unidade, Estação ou Instituto Regimental e (vii) qualquer Fundo Registrado de Aquisição e Poupança reconhecido, cujos ativos consistem unicamente em depósitos feitos por membros e lucros obtidos por seu investimento (viii) Um Fundo de Pensões aprovado pela Securities and Exchange Commission of Pakistan de acordo com as Regras do Sistema de Pensões Voluntárias, 2005 (ix) qualquer lucro ou ganho ou benefício obtido por um administrador de fundos de pensão de um Fundo de Previdência aprovado pelo Sistema de Previdência Voluntária Regras, 2005, sobre o resgate do capital inicial investido no fundo de pensão conforme especificado nas Regras do Sistema de Previdência Voluntária, 2005 (x) o saldo acumulado até 25 recebido do sistema de pensão voluntário oferecido por um gestor de fundos de pensões de acordo com as Regras do Sistema de Previdência Voluntária , 2005, no momento das pessoas elegíveis: (a) aposentadoria ou (b) incapacidade que o torna incapaz de trabalhar ou (c) morte por seus sobreviventes nomeados. Explicação. - Para os fins desta cláusula, quotService Fundquot significa um fundo que é estabelecido sob a autoridade, ou com a aprovação do Governo Federal para: (a) assegurar anuidades diferidas aos assinantes de pagamento para eles no caso de Deixando o serviço em que estão empregados ou (b) providenciando suas esposas ou filhos após a morte ou (c) efetuando o pagamento à sua propriedade ou aos seus indicados após a sua morte. (1) Qualquer renda de uma instituição de confiança ou bem-estar ou organização sem fins lucrativos especificada nas sub-cláusulas (2) e (3) de doações, contribuições voluntárias, assinaturas, propriedades da casa, investimentos nos títulos do governo federal e tanto Do rendimento exigível sob o título. Invenção de negócios como é gasto no Paquistão para fins de realização de atividades de bem-estar: desde que, no caso de receita sob o título. Invenção de negócios, a isenção de renda sob o referido título deve Não exceda um montante que atenda ao rendimento sob o referido título, a mesma proporção que o referido montante suportar o agregado dos rendimentos das fontes de renda acima mencionadas. (2) Uma confiança administrada de acordo com um esquema aprovado pelo Governo Federal neste nome e estabelecido no Paquistão exclusivamente para fins de realização de atividades que sejam para benefício e bem-estar de: (i) ex-militares e funcionários do serviço, incluindo Funcionários civis das Forças Armadas e seus dependentes ou (ii) ex-funcionários e funcionários do Governo Federal ou de um Governo Provincial e seus dependentes, onde a referida confiança é administrada por um comitê nomeado pelo Governo Federal ou, como o Caso pode ser, um governo provincial. (3) Uma instituição de confiança ou de bem-estar social ou organização sem fins lucrativos aprovada pelo Comissário Regional do Imposto de Renda (palavras ao Conselho Central de Revenuequot substituído pelo Finance Bill 2006) para os fins desta sub-cláusula. (59) Qualquer rendimento derivado de investimentos em títulos do Governo Federal, lucro na dívida de bancos agendados (Substituído por instituições financeiras por Finanças, 2003). A concessão recebida do Governo Federal ou dos Governos Provinciais ou Distritais, subsídios estrangeiros e bens imobiliários detidos sob custódia ou outras obrigações legais, inteira ou parcialmente, para fins religiosos ou de caridade e, na verdade, são aplicados ou finalmente separados para sua aplicação: desde que Nada nesta cláusula deve ser aplicado a grande parte da renda que não foi gastada no Paquistão: Além disso, se uma soma do montante assim diferenciado for levada para fora do Paquistão, ela será incluída na receita total do ano fiscal em Que é tão gasto ou do ano em que foi separado, o que for maior, e as disposições da seção 122 não se aplicam a qualquer avaliação feita ou a ser feita de acordo com esta condição. Explicação. - Não obstante qualquer coisa contida no Mussalman Wakf Validating Act, 1913 (VI de 1913), ou qualquer outra lei vigente ou no instrumento relativo ao trust ou à instituição, se qualquer montante for separado, gasto ou desembolsado Para a manutenção e apoio total ou parcial da família, filhos ou descendentes do autor da confiança ou do doador ou, o criador da instituição ou para a sua própria manutenção e apoio durante a sua vida ou pagamento a si próprio ou a sua família, Filhos, relações ou descendentes ou para o pagamento das suas dívidas a partir da renda da propriedade da casa dedicada, ou se qualquer despesa for feita para além de fins de caridade, em cada caso, tais despesas, provisões, separação, pagamento ou desembolso devem Não deve ser considerado, para os fins desta cláusula, para fins religiosos ou caritativos. (60) Qualquer rendimento de uma instituição religiosa ou de caridade derivada de contribuições voluntárias aplicáveis unicamente a fins religiosos ou de caridade da instituição: desde que nada contida na cláusula (61) ou nesta cláusula se aplique aos rendimentos de uma confiança religiosa privada que faz Não é garantido para o benefício do público. (61) (palavras que estão sujeitas às disposições da seção 61, omitidas pela Lei de Finanças de 2005). Qualquer montante pago como doação para a seguinte instituição, fundamentos, sociedades, conselhos, fundos de investimento e fundos, a saber: desde que o montante assim doado não exceda: a) no caso de um indivíduo ou associação de pessoas, trinta por cento do sujeito passivo Renda da pessoa para o ano e (b) no caso de uma empresa, quinze por cento do lucro tributável da pessoa para o ano. (62) Tal parcela da renda total de um contribuinte que é paga por ele durante o ano do rendimento como doação à Associação do Hospital Nacional de Liaquat, Karachi: desde que o montante assim doado seja incluído no cálculo do rendimento total do contribuinte: Além disso, além disso, o montante pelo qual o sujeito passivo de um contribuinte é reduzido em virtude da isenção prevista nesta cláusula será igual ao montante que tenha a mesma proporção do montante isento de imposto ao abrigo desta cláusula como o imposto a pagar sobre o rendimento total Do contribuinte assume a referida renda total. (63A) Qualquer montante pago como doação ao Fundo de Alívio dos Presidentes para as Vítimas do Terremoto 2005. (65) Qualquer renda derivada de doações feitas por fontes não oficiais ou do setor privado no Paquistão para o Waqf para Pesquisa sobre História, Arte e Cultura Islâmica, Istambul criada pelo Centro de Pesquisa de História, Arte e Cultura Islâmica (IRCICA). (66) Qualquer renda derivada por: i. Fundação Abdul Sattar Edhi, Karachi ii. Al-Shifa Trust, Rawalpindi. Iii. Fundação Bilquis Edhi, Karachi. Iv. Fatimid Foundation, Karachi. V. Hamdard Laboratories (Waqf), Paquistão. Vi. International Islamic Trade Finance Corporation. Vii. Corporação Islâmica para o Desenvolvimento do Setor Privado viii. National Memorial Bab-e-Pakistan Trust para o ano de avaliação a partir de 1º de julho de 1994 ou após esse período. Ix. Conselho de Pesquisa Agrícola do Paquistão, Islamabad. X. Conselho de Engenharia do Paquistão xi. As entidades corporativas da Autoridade de Desenvolvimento de Energia e Água do Paquistão a partir da data de sua criação até a data de conclusão do processo de corporativização, isto é, até que a tarifa seja notificada. Xii. A Instituição de Engenheiros, Paquistão, Lahore. Xiii. As Instituições da Rede de Desenvolvimento de Agha Khan (Paquistão), contidas no Anexo 1 do Acordo e Protocolo, datado de 13 de novembro de 1994, executadas entre o Governo da República Islâmica do Paquistão e a Rede de Desenvolvimento Agha Khan. Xiv. A Associação do Hospital Nacional de Liaquat, Karachi. Xv. O Conselho paquistanês de pesquisa científica e industrial. Xvi. A Autoridade de Desenvolvimento de Energia e Água do Paquistão estabelecida nos termos da Lei da Autoridade de Desenvolvimento de Energia e Água do Paquistão de 1958 (W. P. Act XXXI de 1958). Xvii. WAPDA First Sukuk Company Limited. Xviii. Bancos de Microfinanças por um período de cinco anos a partir do primeiro dia de julho de 2007 Desde que esses bancos não emitam dividendos aos seus detentores de ações e seus lucros e ganhos (se houver) serão utilizados somente para operações de Microfinanças. Antes da substituição pela cláusula Finance Bill 2006 (66), leia o seguinte: - (66) Qualquer renda das Instituições da Rede de Desenvolvimento de Agha Khan (Paquistão), conforme previsto no Anexo 1 do Acordo e Protocolo, datado de 13 de novembro de 1994, executado Entre o Governo da República Islâmica do Paquistão e a Rede de Desenvolvimento Agha Khan. As cláusulas (68) a (71A) omitidas pelo Finance Bill 2006, que anteriormente diziam o seguinte: (67) Qualquer renda da Associação do Hospital Nacional de Liaquat, Karachi. (68) Qualquer renda derivada por: (i) Fundação Abdul Sattar Edhi, Karachi e (ii) Fundação Bilquis Edhi, Karachi. (69) Qualquer renda derivada por Al-Shifa Trust, Rawalpindi. (70) Qualquer renda derivada pela Fatimid Foundation, Karachi. (71) Qualquer renda de Hamadard Laboratories (Waqf) Paquistão. (71A) Qualquer renda do National Memorial Bab-e-Pakistan Trust para o ano de avaliação a partir de 1º de julho de 1994 ou após esse período. (72) Qualquer lucro na dívida a pagar a uma pessoa não residente, - (i) em Respeito desse empréstimo privado a ser utilizado nesse projeto no Paquistão, conforme aprovado pelo Governo Federal para os fins desta cláusula, tendo em vista a taxa de lucro e as condições de reembolso do empréstimo e a natureza do projeto em que Deve ser utilizado (ii) sobre um empréstimo em moeda estrangeira contra carta de crédito de exportação que é utilizada exclusivamente para exportação de bens fabricados ou processados para exportação no Paquistão (iii) ser um indivíduo, empresa, empresa ou associação estrangeira de pessoas em Respeito de um empréstimo estrangeiro, como é utilizado para investimento industrial no Paquistão desde que o acordo para tal empréstimo seja concluído em ou após o primeiro dia de fevereiro de 1991 e esteja devidamente registrado no Banco do Estado do Paquistão. Antes da substituição pela Lei Financeira Bill 2006 (72), leia o seguinte: - (72) Qualquer lucro na dívida a pagar a uma pessoa não residente em relação a esse empréstimo privado a ser utilizado nesse projeto no Paquistão, que pode ser aprovado pelo Federal Governo para os fins desta cláusula, tendo em conta a taxa de lucro e os termos de re-pagamento do empréstimo e a natureza do projeto sobre o qual ele será utilizado. Cláusula (73) omitida pelo Finance Bill 2006, que anteriormente dizia o seguinte: (73) Qualquer lucro na dívida a pagar a uma pessoa não residente em um empréstimo em moeda estrangeira contra carta de crédito de exportação que é utilizada exclusivamente para exportação de bens fabricados ou Processados para exportação no Paquistão. (74) Qualquer lucro na dívida derivado da Hub Power Company Limited em ou após o primeiro dia de julho de 1991, em seus depósitos bancários ou contas com instituições financeiras (substituído por bancos de quotados por financiamentos por Finanças Act 2005) (banco anterior bancos substituídos por Instituições financeiras por Finanças, 2003) diretamente relacionadas a transações financeiras relacionadas às operações do projeto. (74A) Qualquer lucro na dívida, a pagar ao Banco Nacional do Paquistão, em empréstimos em moeda estrangeira de US $ 100 milhões, concedido ao Paquistão State Oil Company Limited (PSO) sob acordo celebrado no Bahrein em 29 de maio de 2001, aprovado pelo Federal Divulgação das divisões Financeiras do Ministério das Relações Externas No. F.3 (3) EF (B-III) 2001, de 29 de maio de 2001. (75) Qualquer renda de uma agência de um governo estrangeiro, um estrangeiro (empresa, empresa ou associação De pessoas), ou qualquer outra pessoa não-residente aprovada pelo Governo Federal para os fins desta cláusula, com lucro em dinheiro emprestado sob um contrato de empréstimo ou em relação ao instrumento de moeda estrangeira aprovado pelo Governo Federal. Cláusula (76) omitida pelo Finance Bill 2006, que anteriormente dizia o seguinte: (76) Qualquer lucro na dívida a pagar a uma pessoa não residente sendo um indivíduo estrangeiro, empresa, empresa ou associação de pessoas em relação a um empréstimo estrangeiro, como é utilizado Para o investimento industrial no Paquistão desde que o acordo para tal empréstimo seja concluído em ou após o primeiro dia de fevereiro de 1991 e esteja devidamente registrado no Banco do Estado do Paquistão. (77) Qualquer lucro obtido por uma pessoa não residente (seja um cidadão do Paquistão ou de outra forma) em relação ao modo de financiamento islâmico, incluindo istisna, morabaha, musharika. (78) Qualquer lucro sobre a dívida derivada de contas em moeda estrangeira detidas com bancos autorizados no Paquistão ou certificado de investimento emitido por bancos de investimento de acordo com o regime de contas de moeda estrangeira introduzido pelo Banco do Estado do Paquistão, por cidadãos do Paquistão e estrangeiros residentes No exterior, associação estrangeira de pessoas, empresas registradas e operando no exterior e estrangeiros residentes no Paquistão. (79) Any profit on debt derived from a rupee account held with a scheduled bank in Pakistan by a citizen of Pakistan residing abroad, where the deposits in the said account are made exclusively from foreign exchange remitted into the said account. (80) Any income derived from a private foreign currency account held with an authorised bank in Pakistan, or certificate of investment issued by investment banks in accordance with the Foreign Currency Accounts Scheme introduced by the State Bank of Pakistan, by a resident individual who is a citizen of Pakistan: Provided that the exemption under this clause shall not be available in respect of any incremental deposits made in the said accounts on or after the 16th day of December, 1999, or in respect of any accounts opened under the said scheme on or after the said date. (81A) Notwithstanding omission of clause (81), the existing holders of Foreign Currency Bearer Certificate shall continue to have the benefit of exemption till such certificates are encashed. (82) Any profit on Special US Dollar Bonds issued under the Special US Dollar Bonds Rules, 1998: Provided that the exemption under this clause shall not apply to profits on the said bonds purchased by a resident person out of any incremental deposits made in the foreign currency accounts on or after the 16th day of December, 1999, or out of new accounts opened on or after the said date. (83) Any profit on debt derived from Pak rupees account or certificates of deposit which have been created by conversion of a foreign currency account or deposit held on the 28th day of May, 1998, with a bank authorised under the Foreign Currency Accounts Scheme of State Bank of Pakistan: Provided that nothing contained in this clause shall apply to such Pak rupee account or certificates which are created out of foreign currency deposits which are not exempt under clause (78) and (80). Clause (87) omitted by Finance Act, 2003 which previously read as follows : quot(87) Any income derived by a non-resident person from foreign investment in 7th issue of Pak rupee denominated WAPDA Energy Bonds issued under the WAPDA Energy Bonds (7th Issue) Regulations, 1997.quot (88A) Notwithstanding omission of clause (88), the existing holders of Federal Government Securities and redeemable capital shall continue to have benefit of exemption till the maturity of the securities and redeemable capital. (90) Any profit on debt payable by an industrial undertaking in Pakistan - (i) on moneys borrowed by it under a loan agreement entered into with any such financial institution in a foreign country as may be approved in this behalf by the Federal Government by a general or special order and (ii) on moneys borrowed or debts incurred by it in a foreign country in respect of the purchase outside Pakistan of capital plant and machinery in any case where the loan or debt is approved by the Federal Government, having regard to its terms generally and in particular to the terms of its payment, from so much of the tax payable in respect thereof as exceeds the tax or taxes on income paid on such interest in the foreign country from which the loan emanated or in which the debt was incurred (hereinafter referred to as the said country): Provided that, where the amount of such tax or taxes paid in the said country exceeds the amount of the tax payable in Pakistan, no refund of the amount paid in ex cess shall be allowed: Provided further that, where the said country exempts such interest or allows credit against its own tax for the tax which would have been payable in Pakistan if the said interest were liable to tax in Pakistan, no tax shall be payable in Pakistan in respect of such interest. (91) Any income of a text-book board of a Province established under any law for the time being in force, accruing or arising from the date of its establishment. (92) Any income of any university or other educational institution established solely for educational purposes and not for purposes of profit. (93) Profits and gains derived by a taxpayer from the running of any computer training institution or computer training scheme, recognized by a Board of Education or a University or the University Grant Commission, as the case may be, set up between the first day of July, 1997, and the thirtieth day of June, 2005, both days inclusive, for a period of five years beginning with the month in which such institution is set up: Provided that a computer training institution or computer training scheme approved by the Central Board of Revenue before the first day of July, 2000 shall continue to avail exemption under this clause till the expiry of the specified period. (93A) Profits and gains derived by a taxpayer from the running of any vocational institute or technical institute or poly-technical institute, recognized by a Board of Technical Education or a university or any other authority appointed in this behalf by the Federal Government or a Provincial Government, as the case may be, set up between the first day of July, 2004, and the thirtieth day of June, 2008, both days inclusive, for a period of five years beginning from the tax year in which such institution is recognized. Clauses (95) to (97) omitted by Finance Bill 2006 which previously read as follows : (95) Any income derived by the Pakistan Council of Scientific and Industrial Research. (96) Any income derived by the Institution of Engineers, Pakistan, Lahore. (97) Income of Pakistan Agricultural Research Council, Islamabad. (98) Any income derived by any Board or other organization established (Words quotby Governmentquot omitted by Finance Act, 2003) in Pakistan for the purposes of controlling, regulating or encouraging major games and sports recognised by Government. (99) Any income derived by a mutual fund or an investment company registered under the Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003, (substituted for Investment Companies and Investment Advisers Rules, 1971quot by Finance Act 2005) or a unit trust scheme constituted by an assets management company registered under the Assets Management Companies Rules, 1995, or a Real Estate Investment Trust approved and authorized under Real Estate Investment Trust Rules, 2006 established and managed by a REIT Management Company licensed under the Real Estate Investment Trust Rules, 2006, if not less than ninety percent of its accounting income of that year, as reduced by capital gains whether realized or unrealized, is distributed amongst the unit or certificate holders or shareholders as the case may be: Explanation. For the purpose of this clause the expression accounting income means income calculated under the Generally Accepted Accounting Principles and verified by the auditors. (99A) Profits and gains accruing to a person on sale of immovable property to a real estate investment trust upto thirtieth day of June, 2010. (100) Any income, not being income from trading activity, of a modaraba registered under the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980 (XXXI of 1980), for any assessment year commencing on or after the first day of July, 1999 : Provided that not less than ninety per cent of its total profits in the year as reduced by the amount transferred to a mandatory re serve, as required under the provisions of the said Ordinance or the rules made thereunder, as are distributed amongst the shareholders (Substituted for quotthereafterquot by Finance Act, 2003) . Provided further that with effect from the first day of July, 1999 for the purpose of determining the distribution of ninety per cent profits, the profits distributed through bonus certificates or shares to the certificate holders shall not be taken into account. (101) Profits and gains derived between the first day of July,2000 and the thirtieth day of June, 2014 (quot2007quot substituted by Finance Bill 2006) both days inclusive, by a venture capital company and venture capital fund registered under Venture Capital Companies and Funds Management Rules, 2000 and a Private Equity and Venture Capital Fund. (102) Any dividend received by the Investment Corporation of Pakistan from any other company which has paid or will pay tax in respect of the profits out of which such dividends are paid. (102A) Income of a person as represents a subsidy granted to him by the Federal Government for the purposes of implementation of any orders of the Federal Government in this behalf. (103) Any distribution received by a taxpayer from the National Investment (Unit) Trust or a collective Investment Scheme authorized or registered under the Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003 or a Private Equity and Venture Capital Fund (substituted for a Mutual Fund established by the Investment Corporation of Pakistan or an investment company registered under the Investment Companies and Investment Advisor Rules, 1971 or a unit trust scheme constituted by an assets management company registered under the Assets Management Companies Rules, 1995) out of the capital gains of the said Trust or Fund on which tax has already been paid. (103A) Any income derived from inter-corporate dividend within the group companies entitled to group taxation under section 59AA. (104) Any income derived by the Libyan Arab Foreign Investment Company being dividend of the Pak-Libya Holding Company. (105) Any income derived by the Government of Kingdom of Saudi Arabia being dividend of the Saudi-Pak Industrial and Agricultural Investment Company Limited. Clauses (106) amp (106A) omitted by Finance Bill 2006 which previously read as follows : (106) Any income derived by the Pakistan Water and Power Development Authority, established under the Pakistan Water and Power Development Authority Act, 1958 (West Pakistan Act. No. XXXI of 1958). (106A) Any income derived by the corporatized entities of Pakistan Water and Power Development Authority from the date of their creation upto the date of completion of the process of corporatization i. e. till the tariff is notified. (107) Any income derived by any subsidiary of the Islamic Development Bank wholly owned by it and set up in Pakistan and engaged in owning and leasing of tankers. Clauses (108) amp (109) omitted by Finance Act, 2003 which previously read as follows : quot(108) Any income derived by the International Irrigating Management Institute (IIMI), Pakistan. (109) Any amount collected by the Civil Aviation Authority up to the thirty-first December, 1998, on account of security charges. quot (110) Any income chargeable under the head quotcapital gainsquot, being income from the sale of modaraba certificates or any instrument of redeemable capital as defined in the Companies Ordinance, 1984 (XLVII of 1984), listed on any stock exchange in Pakistan or shares of a public company as defined in sub-section (47) of section 2 (substituted for quotas defined in the First Schedulequot by Finance Act 2005) and the Pakistan Telecommunications Corporation vouchers issued by the Government of Pakistan, derived by a taxpayer upto tax year ending on the thirtieth day of June, 200 8 (substituted for 2007 by Finance Bill 2007). (110A) Any gain on transfer of a capital asset of the existing stock exchanges to new corporatized stock exchange, in the course of corporatization of an existing stock exchange. (110B) Any gain on transfer of a capital asset, being a membership right held by a member of an existing stock exchange, for acquisition of shares and trading or clearing rights acquired by such member in new corporatized stock exchange in the course of corporatization of an existing stock exchange. (111) Any income chargeable under the head capital gains, being income from the sale of shares of a public company derived by any foreign institutional investor as is approved by the Federal Government for the purpose of this clause. (113) Any income chargeable under the head quotcapital gainsquot, being income from the sale of shares of a public company set up in any Special Industrial Zone referred to in clause (126) (Substituted for quot(120)quot by Finance Act, 2003) of this Schedule, derived by a person for a period of five years from the date of commencement of its commercial production: Provided that the exemption under this clause shall not be available to a person from the sale of shares of such companies which are not eligible for exemption from tax under clause (126) (Substituted for quot(120)quot by Finance Act, 2003) . (114) Any income chargeable under the head quotcapital gainsquot derived by a person from an industrial undertaking set up in an area declared by the Federal Government to be a quotZonequot within the meaning of the Export Processing Zones Authority Ordinance, 1980 (IV of 1980). (114A) Any income chargeable under the head quotcapital gains: derived by a person from sale of ships and all floating crafts including tugs, dredgers, survey vessels and other specialized craft upto tax year ending on the thirtieth day of June 2011. Clause (115) omitted by Finance Act, 2003 which previously read as follows : quot(115) Any share of income received by a taxpayer out of capital gains on which tax has been paid by the firm of which he is a partner: Provided that exemption under this clause shall not apply in respect of any tax year commencing on or after the 1st day of July, 2002.quot (117) Any income derived by a person from plying of any vehicle registered in the territories of Azad Jammu and Kashmir, excluding income arising from the operation of such vehicle in Pakistan to a person who is resident in Pakistan and non-resident in those territories. Clause (120) omitted by Finance Bill 2006 which previously read as follows : (1) Profits and gains derived by a taxpayer from an industrial undertaking for a period of five years from the date of commencement of commercial production. (2) The exemption under this clause shall apply to an undertaking which is - (a) set up between the first day of July, 1994, and the thirtieth day of June,2000, both days inclusive (b) owned and managed by a company formed exclusively for operating the said industrial undertaking engaged in fruit processing and registered under the Companies Ordinance, 1984 (XLVII of 1984), and having its registered office in Pakistan and (c) is not formed by splitting up or the reconstruction or reconstitution of business already in existence or by transfer to a new business of any machinery or plant in Pakistan at any time before the commencement of the new business. Clause (121) omitted by Finance Act, 2003 which previously read as follows : quot(121) Profits and gains derived by an assessee from an industrial undertaking setup in an area declared by the Federal Government to be a quotZonequot within the meaning of the Export Processing Zones Authority Ordinance, 1980 (IV of 1980) for the assessment years 1998-1999, 1999-2000 and 2000-2001. However, exemption under this clause shall be restricted to the remaining period of exemption to which a company was entitled before the relevant amendments made by the Finance Act, 1996 (IX of 1996).quot (1) Profits and gains derived by a taxpayer from an industrial undertaking set up between the first day of July, 1995, and the 31st day of December, 2002, both days inclusive, for a period of ten years beginning with the month in which the undertaking is set up or commercial production is commenced, whichever is the later: Provided that the exemption under this clause shall not be available after the 31st January, 1996, except to such taxpayers, otherwise qualifying under this clause, who have established letters of credit for the import of plant and machinery for such industrial undertaking by the 31st January, 1996: Provided further that the extension in deadline from the 30th June, 1999, to the 31st December, 2002, shall not apply to those projects whose cases are sub judice and th at the Federal Government shall decide such cases in accordance with the verdict of the apex Court. (2) The exemption under this clause shall apply to an industrial undertaking which fulfils the following conditions, namely :- (a) that it is set up in such area as may be notified by the Federal Government to be a Special Industrial Zone (b) that it is not formed by the splitting up, or the reconstruction or reconstitution of a business already in existence or by transfer to a new business of any machinery or plant used in a business which was being carried on in Pakistan at any time before the commencement of the new business (c) that it is owned and managed by a company formed exclusively for operating such industrial undertaking and registered under the Companies Ordinance, 1984 (XLVII of 1984), having its registered office in Pakistan and (d) that it is not engaged in the manufacture of arms and ammunition, security printing, currency and mint, high explosives, radioactive substances, alcohol (except industrial alcohol), cotton ginning, spinning (except as part of integrated te xtile unit), sugar manufacturing (white), flour milling, steel re-rolling and furnace, Tobacco industry, ghee or vegetable oil industry, plastic bags (including Polyropylene, and Polyethylene), beverages (excluding fruit juices), polyester industry, automobile assembly and cement industry. (126A) income derived by - (a) Gwadar Free Zone Company Limited (b) PSA Gwadar International Terminal Limited and (c) Gwadar Marine Services Limited, from Gwadar Port operations for a period of twenty years beginning from the year in which the company is set up or commercial operation is commenced, which ever is the later. Clause (129) omitted by Finance Act, 2003 which previously read as follows : (129) Any income of Saudi-Pak Industrial and Agricultural Investment Company Limited in Pakistan for a period of twenty years commencing with the thirty-first day of December, 1982. (a) of company registered under the Companies Ordinance 1984 (XLVII of 1984), and having its registered office in Pakistan, as is derived by it by way of royalty, commission or fees from a foreign enterprise in consideration for the use outside Pakistan of any patent, invention, model, design, secret process or formula or similar property right, or information concerning industrial, commercial or scientific knowledge, experience or skill made available or provided to such enterprise by the company or in the consideration of technical services rendered outside Pakistan to such enterprise by the company under an agreement in this behalf, or (b) of any other taxpayer as is derived by him, in the income year relevant to assessment year beginning with the first day of July, 1982 and any assessment year thereafter, by way of fees for technical services rendered outside Pakistan to a foreign enterprise under an agreement entered into in this behalf :- (i) such income is received in Pakistan by or on behalf of the said company or other taxpayer, as the case may be, in accordance with the law for the time being in force for regulating payments and dealings in foreign exchange and (ii) where any income as aforesaid is not brought into Pakistan in the year in which it is earned and tax is paid thereon, an amount equal to the tax so paid shall be deducted from the tax payable for the year in which it is brought into Pakistan and, where no tax is payable for that year or the tax payable is less than the amount to be deducted, the whole or such part of the said amount as is not deducted shall be carried forward and deducted from the tax payable for the year next following and so on. (132) Profits and gains derived by a taxpayer from an electric power generation project set up in Pakistan on or after the 1st day of July, 1988. The exemption under this clause shall apply to such project which is - (a) owned and managed by a company formed for operating the said projectand registered under the Companies Ordinance, 1984 (XLVII of 1984), and having its registered office in Pakistan (b) not formed by the splitting up, or the reconstruction or reconstitution, of a business already in existence or by transfer to a new business of any machinery or plant used in a business which was being carried on in Pakistan at any time before the commencement of the new business and (c) owned by a company fifty per cent of whose shares are not held by the Federal Government or Provincial Government or a local authority or which is not controlled by the Federal Government or a Provincial Government or a local authority: Provided that the condition laid down in sub-clause (a) shall not app ly to the Hub Power Company Limited: Provided further the exemption under this clause shall not apply to any oil fired power plants set up between 22nd October, 2002 and 30th June, 2006 (words quoton or after 22nd October, 2002quot s ubstituted by Finance Bill 2006). but shall apply to Dual Fuel (OilGas) power projects set up on or after the first Septemebr, 2005 Provided further that the exemption under this clause shall be available to companies registered in Pakistan or Azad Jammu and Kashmir owning and managing Hydel Power Projects, set up in Azad Jammu and Kashmir or Pakistan. (132A) Payments made on or after the first day of July, 1991, for the supply of plant, equipment and machinery to Hub Power Company Limited by a non-resident being a foreign individual, company, firm or association of persons. (133) Income from exports of computer software or IT services or IT enabled services upto the period ending on 30th day of June, 2016. Explanation.- For the purpose of this clause - (a) IT Services include software development, software maintenance, system integration, web design, web development, web hosting, and network design, and (b) IT enabled services include inbound or outbound call centres, medical transcription, remote monitoring, graphics design, accounting services, HR services, telemedicine centers, data entry operations. locally produced television programs and insurance claims processing. Clause (133) substituted by Finance Act, 2003 which previously read as follows : quot(133) Income from export of computer software and its related services developed in Pakistan: Provided that the exemption under this clause shall not be available after the 30th day of June, 2016.quot (133A) Any income derived by an individual from transfer of his membership rights or shares of a stock exchange in Pakistan along with a room in the Stock Exchange to a company at any time between the first day of July, 2005, and the thirtieth day of June, 2008 (substituted for 2007 by Finance Act 2007). (quot2006quot substituted by Finance Bill 2006) Clause (134) omitted by Finance Act, 2003 which previously read as follows : quot(134) Any amount received on encashment of any certificate issued in pursuance of the US Dollar Bearer Certificate Rules, 1991: Provided that exemption under this clause shall not be available in respect of certificates purchased on or after the 15 June, 1995.quot (135) Any amount received on encashment of Special US Dollar Bond issued under the Special US Dollar Bonds Rules, 1998. (136) Any income of a special purpose vehicle as defined in the Asset Backed Securitization Rules, 1999 made under the Companies Ordinance, 1984 (XLVII of 1984): Provided that, if there is any income which accrues or arises in the accounts of the special purpose vehicle, after completion of the process of the securitization, it shall be returned to the Originator as defined by the said rules within the income year next following the year in which the income has been determined and such income shall be taxable in the hands of the Originator. Clause (137) omitted by Finance Bill 2006 which previously read as follows : (137) Income of Fugro Geodetic Limited from execution of contract with the Government of Pakistan for survey for the establishment of the Continental Shelf of Pakistan. Clause (137) omitted by Finance Act, 2003 which previously read as follows : quot(137) Payments made on or after the first day of July, 1991, for the supply of plant, equipment and machinery to Hub Power Company Limited by a non-resident person. quot (138) Any income referred to in Section 3.4 (a) of the Facilitation Agreement between the President of the Islamic Republic of Pakistan and the taxpayer purchasing the Kot Addu Power Station from Pakistan Water and Power Development Authority for a period of ten years from 28th June, 1996 provided, however, that the exemption under this clause shall only be available subject to the business of the said taxpayer being restricted to owing and operating the Kot Addu power station. (a) The benefit represented by free provision to the employee of medical treatment or hospitalization or both by an employer or the reimbursement received by the employee of the medical charges or hospital charges or both paid by him, where such provision or reimbursement is in accordance with the terms of employment: Provided that National Tax Number of the hospital or clinic, as the case may be, is given and the employer also certifies and attests the medical or hospital bills to which this clause applies (b) any medical allowance received by an employee not exceeding ten per cent of the basic salary of the employee if free medical treatment or hospitalization or reimbursement of medical or hospitalization charges is not provided for in the terms of employment or Sub-clause (c) omitted by Finance Bill, 2006 which previously read as follows . (c) any amount paid during a year by a taxpayer, being a resident individual, by way of personal expenditure on medical service to the extent of ten per cent of taxable income declared in his return of income for the said tax year or thirty thousand rupees - whichever is the less: Provided that the receipts of such expenditure bearing name, National Tax Number and complete address of the medical practitioners are furnished along with his return of income. Clause (139) substituted by Finance Act, 2003 which previously read as follows. (a) Any benefit, reimbursement received by an employee on account of medical charges or hospital charges, or both, incurred by an employee, as provided for under the terms of the employees employment agreement or where such benefit for reimbursement, medical charges or hospital charges, or both are not provided for under the terms of employments agreement, medical allowance to maximum of 10 of the basic pay for the year: Provided that National Tax Number of the hospital or clinic, as the case may be, is given and the employer also certifies and attests the medical or hospital bills to which this clause applies or (b) Any amount paid by a taxpayer, being an individual and resident in Pakistan, by way of personal expenditure on medical service, to the extent of 10 of taxable income returned in return of income or Rs 30,000 whichever is lower. Provided that the receipts in respect of such expenditure being name, National Tax Number and complete address of the medical practitioners are furnished along with his return of income. quot REDUCTION IN TAX RATES Incomes or classes of income, or persons or classes of persons, enumerated below, shall be liable to tax at such rates which are less than the rates specified in the First Schedule, as are specified hereunder: clause (1) omitted by Finance Act 2005 which previously read as followsquot - (1) The rates of income tax (Words quotand super taxquot omitted by Finance Act, 2003), as specified in the First Schedule and as applicable to the profits and gains derived by a resident company from an undertaking setup between the First day of July, 1981 and the Thirtieth day of June, 1998, both days inclusive, and engaged in the exploration and extraction of such mineral deposits, other than petroleum, as is (Substituted for quotmay bequot by Finance Act, 2003) specified by the Federal Gove rnment by a notification in the Official Gazette, shall be reduced by 50 for a period of five years immediately next following the period of five years from the date of commercial production. (2) Any income of persons whose profits or gains from business are computed under the Fifth Schedule to this Ordinance as is derived from letting out to other similar persons any pipeline for the purpose of carriage of petroleum shall be charged to tax at the same rate as is applicable to such persons in accordance with the provisions of the said Schedule. (3) The tax in respect of income from (word quotengineering contractingquot omitted by Finance Act 2005) services rendered (quotor construction contractsquot omitted by Finance Act 2007) outside Pakistan shall be charged at the rate of one per cent of the gross receipts, provided that such receipts are brought into Pakistan in foreign exchange through normal banking channel. (3A) The tax in respect of income from construction contracts out side Pakistan shall be charged at the rate of one per cent of the gross receipts provided that such income is brought into Pakistan in foreign exchange through normal banking channel Clause (4) omitted by Finance Act, 2003 which previously read as follows. quot(4) In the case of an industrial undertaking set up in an area declared by the Federal Government to be a quotZonequot within the meaning of the Export Processing Zones Authority Ordinance, 1980 (IV of 1980), the income, profits and gains of such undertaking accruing or arising after the expiry of the period of exemption under clause (132) of Part I shall be charged to tax for a period of five years thereafter at the rate equal to twenty-five per cent of the rates specified in the First Schedule: Provided that nothing contained in this clause shall apply in respect of undertakings whose period of exemption under clause (124) of Part I will expire after the 30th June, 1997.quot (5) The tax chargeable in respect of commission received by an export indenting agent or an export buying house shall be at the rate equal to the rate of tax applicable to the exporter on export of goods to which such commission relates. (5A) The rate of withholding tax in respect of payments for profit on debt payable to a non-resident person, having no permanent establishment in Pakistan, shall be the rate as provided in Avoidance of Double Taxation Treaty of the respective country of the non-resident. (5B) The tax in respect of capital gains derived by a person from the sale of shares or assets by a private limited company to Private Equity and Venture Capital Fund shall be charged at the rate of ten per cent of such gains. (6) In the case of resident person the profit on Special US Dollar Bonds purchased out of any incremental deposits made in the existing foreign currency accounts on or after the 16th day of December, 1999, or out of new accounts opened on or after the said date, shall be liable to deduction of income tax under clause (c) of sub-section (1) of section 151 at the rate of 10 per cent of the amount of the said profit. clause ( 7) omitted by Finance Act 2005 which previously read as followsquot - (7) In case of any resident individual, the tax from profit or interest of any National Savings (Substituted for quotSavingquot by Finance Act, 2003) Schemes of Directorate of National Savings or Post Office Savings (Substituted for quotSavingquot by Finance Act, 2003) Account in which investment is made on, or after, the first day of July, 2001, shall be deducted at the rate of ten percent of such profit or interest. Proviso omitted by Finance Act, 2003 which previously read as follows. quotProvided that no tax shall be deducted from income or profits paid on - (a) Defence Savings Certificates, Special Savings Certificates Savings Accounts or Post Office Savings Account, made on, or after, the first day of July, 2001, where such deposit does not exceed one hundred and fifty thousand rupees and (b) Investment in Monthly income saving Accounts Scheme of Directorate of National Savings on, or after, the first day of July, 2001, where monthly installment in an account does not exceed one thousand rupees. quot clause ( 8 ) omitted by Finance Act 2005 which previously read as followsquot - (8) In the case of Daewoo Corporation, Seoul, Korea (hereinafter referred to as the Contractor), payments received in full or in part (including a payment by way of an advance) in pursuance of the contract agreements made with the National Highway Authority on the thirtieth day of December, 1991, for design and construction of Lahore - Islamabad Motorway shall be deemed to be the income of t he Contractor and charged to tax at the rate of three per cent of such payments which shall constitute final discharge of his tax liability under this Ordinance and the Contractor shall not be required to file the return of income under section 114. (9) Tax under section 148 shall be collected at rate of the 1 on import of all fibers, yarns and fabrics excluding pure cotton or its yarn or its fabrics. before substitution by Finance Act 2005 clause (9) read as follows:- (9) Tax shall be collected at 34th of the rate applicable under section 148 on the goods imported under the Afghan Transit Trade Agreement, 1965, and subject to Notification SRO 368(I)95, dated the 2nd May, 1995. (9A) Tax under section 231B shall be collected at the rate of two and a half per cent at the time of sale of motor car and the withholding tax agents (manufacturer or authorized dealer), irrespective of the date of booking or advance payment made by the purchaser, shall collect advance tax where sale invoice is issued and delivery of motor car is made after 31st August 2007. (10) In the case of Ms Fauji Foundation and Army Welfare Trust, so much of the income chargeable under the head quotIncome from business quot as is not exempt under clause (58) of Part I, shall be charged to tax at the rate of 20 of such income. Clauses (11) amp (12) omitted by Finance Bill 2006 which previously read as follows:- (11) In the case of a non-resident OampM Contractor payments, received in full or in part including a payment by way of an advance, for the operation and maintenance of a private sector power project and transmission line projects approved by the Federal Government shall be deemed to be the income of the said OampM Contractor and charged to tax at the rate of five per cent of such payments for a period of three years beginning with the date of commencement of companys operations which shall constitute the final discharge of tax liability by the OampM Contractor under this Ordinance in respect of the said project. (12) In the case of consortium of Ms. STFA Construction Company of Turkey and Ms. JDN of Belgium (hereinafter referred to as the contractor) all payments received in pursuance of the contract agreement No. CEN-12693, made with the Ormara Naval Harbour Project Board, on the fourteenth day of June, 1993, for the construction of a Naval Harbour at Ormara (including off-shore and land development works), chargeable to tax in any assessment year, shall be deemed to be the income of the contractor and charged to tax at the rate of three per cent which shall constitute final discharge of contractors tax liability under this Ordinance. (13) Tax under section 148 shall be collected at the rate of 1 on imports of capital goods and raw material imported exclusively for its own use by a manufacturer registered with Sales Tax Department. before substitution by Finance Act 2007 clause (13) read as follows:- (13) Tax under section 148 shall be collected in the case of edible oils at the rate of 3 and in the case of condemned ships imported for the purpose of breaking at the rate of 1 of the import value as increase by customs-duty and sales tax, if any, levied thereon before substitution by Finance Act 2005 clause ( 13) read as follows:- (13) In respect of any edible oils imported, the tax under section 148 shall be collected at the rate of three per cent of the value of such edible oils as increased by customs-duty and sales tax, if any, levied thereon. (13A) In respect of phosphatic fertilizer imported and specified in Notification No. S. R.O.609 (I) 2004, dated 16th July, 2004 tax under section 148 of the Income Tax Ordinance 2001 shall be collected at the rate of 1 of its import values as increased by customs duty, sales tax and federal excise duty. if any, levied thereon. (13B) In respect of goods falling under HS Code 801.1100, 801.3200, 802.1200, 802.9010, 902.4010, 902.4090, 2101.1110, 2101.1120, 0902.2000, 904.1110, 907.0000, 908.1000, 3702.3100, 3705.2000, 3707.9000, 4011.2090, 50.04, 50.05, 50.06, 6301.1000, 8204.0000, 8301.1000, 8511.1000, 8525.4000, 8529.9010 and 9004.1000 of the First Schedule to the Customs Act, 1969 (IV of 1969), imported, the tax under section 148 shall be collected at the rate of 2 of its import value as increased by customs duty, sales tax and federal excise duty. if any, levied thereon. (13C) In respect of manufacturers of cooking oil or vegetable ghee or both, the rate of income tax on purchase of locally produced edible oil shall be 1 of the purchase price. (13D Omitted by the Finance Ordinance Act, 2005) (13D) In respect of import of polyester yarnfibre of all types, the tax under section 148 shall be collected at the rate of two per cent of the value of such items as increased by customs-duty and sales tax, if any, levied thereon. (13E) In respect of potassic fertilizers imported in pursuance of economic Coordination committee of the Cabinets decision No. ECC-155122004 dated the 9th December, 2004 the tax under section 148 of the Income Tax Ordinance, 2001 shall be collected at the rate of one percent of its import value as increased by customs-duty and sales tax, if any, levied thereon. (13F Omitted by SRO 1037(I) 2005 dated 14th October 2005 (13F) In respect of import of blankets (acrylic) (words quotand acrylic yarn of 32 to 40 metric count if imported for self consumption by blanket manufacturesquot omitted by the Finance Ordinance Act, 2005). the tax under section 148 of the Income Tax Ordinance, 2001 shall be collected at the rate of two percent of the value of such items as increased by customs-duty and sales tax, if any, levied thereon. (13G) Tax under section 148 on the following items shall be collected 1 of their import value as increased by customs duty, sales tax and federal excise duty. if any levied thereon: i. Capital goods x. Trucks in CBU condition having Gross Vehicle Weight exceeding 5 tons classified under PCT headings 87.01, 8704.3290 and 8704.9090 xi. Dump trucks classified under PCT heading 8704 xii. Fully dedicated CNG buses (CBU) classified under PCT heading 8702.1090 and 8702.9090 and agricultural tractors classified under PCT heading 8701.9 020 xiii. medical, surgical, dental or veterinary machineryequipment, fixtures, fittings, furniture and diagnostic kits not manufactured locally covered by SRO 575(i)2006 dated 05.06.2006 under the Customs Act, 1969 xiv. equipments relating to call centers not manufactured locally covered by SRO 575(i)2006 dated 05.06.2006 under the Customs Act, 1969 xv. Disinfectants used in poultry business covered by SRO 567(i)2006 dated 05.06.2006 under the Customs Act, 1969 xvi. pre-fabricated structures for poultry farms covered by SRO 567(i)2006 dated 05.06.2006 under the Customs Act, 1969 xvii. live stock and raw materials and intermediaries goods as used in the manufacture of packing material for the packing of dairy products covered by SRO 567(i)2006 dated 05.06.2006 under the Customs Act, 1969 xviii. ripening chambers, hot water treatment plant, vapor hot treatment plant, modern cold storage, packing machinery, power generating sets of 10 25 KVA and battery operated fork lift trucks used in horticulture and floriculture business covered by SRO 575(i)2006 dated 05.06.2006 under the Customs Act, 1969 xix. processing and packing machineryequipment required for fish farming covered by SRO 575(i)2006 dated 05.06.2006 under the Customs Act, 1969 xx. medicines for cancer, drugs used for kidney dialysis and kidney transplant, all type of vaccines for Hepatitis, Interferon and other medicines for Hepatitis, all vaccinesanti-sera, cardiac medicines, injection anti-D Immunoglobulin, blood bags CPDA.1, all medicines for HIVAIDS and all medicines for Thalassemia covered by SRO 567(i)2006 dated 05.06.2006 under the Customs Act, 1969 xxi. Broadcasting equipments covered by SRO 575(i)2006 dated 05.06.2006 under the Customs Act, 1969 xxii. News print covered by SRO 567(i)2006 dated 05.06.2006 under the Customs Act, 1969 xxiii. Computer hardware, parts and accessories of items classified under PCT heading 8471. (XXIV) Condemned ships for the purpose of breaking. Explanation.- Capital goods mean any plant, machinery, equipment, spares and accessories, classified in Chapters 84, 85 or any other Chapter of the Pakistan Customs Tariff, required for,- (i) the manufacture or production of any goods, and includes refractory bricks and materials required for setting up a furnace, catalysts, machine tools, packaging machinery and equipment, refrigeration equipment, power generating sets and equipment, instruments for testing, research and development, quality control, pollution control and the like (ii) use in mining, agriculture, fisheries, animal husbandry, floriculture, horticulture, live stock, dairy and poultry industry (iii) service sector as defined in Customs Act, 1969 This clause shall supercede clause (iv) of SRO.593(I)91 dated 30th June, 1991 before substitution by Finance Bill 2006 clause (13G) read as follows:- (13G) In respect of re-meltable and re-rollable scrap, the tax under section 148 shall be collected at the rate of one per cent of the value of such goods as increased by customs-duty and sales tax, if any, levied thereon. (13H) Tax under section 148 on the following items shall be collected 2 of their import value as increased by customs duty. Federal Excise Duty and sales tax, if any levied thereon: (i) raw material for steel industry including remeltable and re-rollable scrap (ii) raw material for manufacturer of poultry feed (iv) edible oils including crude oil imported as raw material for manufacture of ghee or cooking oil (v) Energy saver lamps PCT heading 8539.10 (vi) Bitumen PCT heading 2714 (vii) Fixed Wireless Terminal PCT heading 8525.2040 (viii) Pesticides and wedicides (14) Tax shall be deducted under section 154 at the rate of 0.75 from foreign exchange proceeds on account of exports of - (i) rice marketed under a brand name up to five kilograms packs ( ii) canned and bottled fish including sea-food and other food items and (iii) precious and semi-precious stones whether uncut, cut, or polished. (15) Tax shall be deducted under section 154 at the rate of 0.75 from foreign exchange proceeds on account of exports of fish and fisheries products packed in retail packs of five hundred grams to two kilograms. (16) In the case of a non-resident company, rate of deduction of tax under section 150 on dividends received from a company engaged exclusively in mining operations, other than petroleum, shall be 7.5 per cent of the gross amount of dividend. (17) The rates of tax as specified in Division III of Part-I of First Schedule shall be reduced to 7.5 in case of dividends declared or distributed by purchaser of a power project privatized by WAPDA. (18) In the case of a modaraba the rate of income tax shall be 25 of total income excluding such part of total income to which Division III of Part I of the First Schedule or section 153 or section 154 applies. (19) In respect of tax year commencing on or after first July, 2002, the rate of income tax in respect of income of amalgamated company for its different businesses shall be the same as applicable to such businesses in the relevant tax year for the tax year in which amalgamation takes place and two tax years next following. (20) The rates of tax as specified in clause (b) of Division-III of Part-I of First Schedule shall be reduced to 7.5 in case of dividend declared or distributed on shares of a company set up for power generation. (21) In the case of any resident person engaged in the business of shipping, a presumptive income tax shall be charged in the following manner, namely:- (a) ships and all floating crafts including tugs, dredgers, survey vessels and other specialized craft purchased or bare-boat chartered and flying Pakistan flag shall pay tonnage tax of an amount equivalent to one US per gross registered tonnage per annum and (b) ships, vessels and all floating crafts including tugs, dredgers, survey vessels and other specialized craft not registered in Pakistan and hired under any charter other than bare-boat charter shall pay tonnage tax of an amount equivalent to fifteen US cents per tonne of gross registered tonnage per chartered voyage provided that such tax shall not exceed one US per tonne of gross registered tonnage per annum: Provided that the reduction under this clause shall not be available after the 30th June, 2020. Explanation.- For the purpose of this clause the expression equivalent a mount means the rupee equivalent of a US dollar according to the exchange rate prevalent on the first day of December in the case of a company and the first day of September in other cases in the relevant assessment year. clause (22) omitted by Finance Act 2007 (22) In respect of companies getting enlisted on any stock exchange in Pakistan during the period first July, 2005 to thirtieth June, 2006, the rate of income tax shall be reduced by 1. (23) In respect of Urea fertilizer imported, the tax under section 148 shall be collected at the rate of 1 of its import value as increased by customs duty, sales tax and federal excise duty. if any levied thereon. (24) In respect of pulses imported, the tax under section 148 shall be collected at the rate of two per cent of the value of such pulses as increased by customs duty, sales tax and federal excise duty. if any, levied thereon. clause (25) omitted by Finance Act 2007 (25) Services of stitching, dying, printing, embroidery and washing rendered or provided to an exporter or an export house shall be treated as export and chargeable to tax at the rate equal to the rate of tax applicable to the exporter on export of sizing, weaving goods to which such services relate as specified in Division IV of Part III of the First Schedule. (26) The rate of tax as specified in Division II of Part IV, of the First Schedule, in case of advertising agents, shall be 5 of the amount of the payment. clause (27) omitted by Finance Act 2007 (27) The rate of withholding tax. as specified in Division III of Part III of the First Schedule, in respect of payment on account of transportation of goods through goods transport vehicles shall be two per cent of gross amount of the payment with effect from July1,2006. REDUCTION IN TAX LIABILITY Income, or classes of income, or person or classes of person, enumerated below, shall be allowed reduction in tax liability to the extent and subject to such conditions as are specified hereunder:- (1) Any amount received as flying allowance by - (a) pilots, flight engineers and navigators of Pakistan Armed Forces, Pakistani Airlines or Civil Aviation Authority and (b) Junior Commissioned Officers or other ranks of Pakistan Armed Forces shall be taxed 2.5 as a separate block of income. clause (1) omitted by Finance Act 2005 which previously read as follows:- (1) The Income Tax liability on income of salaried taxpayers, where any income chargeable under the head salary exceeds 50 of taxable (Substituted for quottotalquot by Finance Act, 2003) income as determined under clause 1 amp 2 of Division-I of Part-I of the First Schedule, shall be reduced at the following rates:- (1A) Where the taxable income, in a tax year, of a taxpayer aged 60 (quot65quot substituted by Finance Bill 2006) years or more on the first day of that tax year does not exceed 400,000 (substituted for words quotthree hundred thousandquot by Finance Act 2005) rupees, his tax liability on such income shall be reduced by 50. (2) The tax payable by a full time teacher or a researcher, employed in a non profit education or research institution duly recognized by Higher Education Commission, a Board of Education or a University recognized by the Higher Education Commission, including government training a nd research institution, shall be reduced by an amount equal to 75 of tax payable on his income from salary. before substitution by Finance Bill 2006 clause (2) read as follows:- (2) in addition to the reduction specified in sub-clause (1), the tax payable by a full time teacher or a researcher, employed in a non profit education or research institution including government training and research institution duly recognized by a Board of Education or a University or the Higher Education Commission (substituted for words quot University Grants Commission quot by Finance Act 2005) . shall be further reduced by an amount equal to 75 (substituted for quot50quot by Finance Act 2005) of the tax payable after the aforesaid reduction. (2) The amount of tax payable, in a year in which the rupee is revalued or devalued, by a taxpayer whose profits or gains are computed in accordance with the rules contained in the Fifth Schedule to this Ordinance and who had entered with the Government into an agreement which provides for such reduction, shall be reduced to the amount that would be payable in the absence of the revaluation or devaluation of the rupee. (3) Where any company engaged in the business of distribution of cigarette manufactured in Pakistan is required to pay minimum tax on the amount representing its turnover under section 113, the amount of tax payable under the said section shall be reduced by eighty per cent. (4) In respect of old and used automotive vehicles specified in Notification No. S. R.O. 932(I)2004 dated the 20th November, 2004, the tax under section 148 of the Income Tax Ordinance, 2001, shall not exceed the amount specified in column (3) of the Table below, namely:- EXEMPTION FROM SPECIFIC PROVISIONS 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: - Clause (1) omitted by Finance Act, 2003 which previously read as follows : quot(1) The provisions of clause (k) of section 21 shall not apply to any expenditure incurred by a banking company or a financial institution owned and controlled by the Federal Government on the provisions of perquisites, allowances or other benefits to any employee in pursuance of any law. quot (2) In the case of losses referred to in section 57 in respect of an industrial undertaking set up in an area declared by the Federal Government to be a quotZonequot within the meaning of Export Processing Zones Authority Ordinance, 1980 (IV of 1980), the period of six tax years (Substituted for quotassessment yearsquot by Finance Act, 2003) specified in the said section shall not apply. (3) The provisions of clause (b) of component C of the formula contained in (Substituted for quotcomponent C ofquot by Finance Act, 2003) sub-section (2) of section 61 shall not apply in case of donations made to Agha Khan Hospital and Medical College, Karachi: Clause (4) omitted by Finance Act, 2003 which previously read as follows : quot(4) The provisions of section 111 shall not apply in respect of any amount invested in the acquisition of Foreign Exchange Bearer Certificates issued under the Foreign Exchange Bearer Certificates Rule, 1985.quot (3A) The provisions of sub-sections (5) and (5A) of section 34 and section 70 shall not apply to any benefit derived by way of waiver of profit on debt or the debt itself under the State Bank of Pakistan, Banking Policy Departments Circular No.29 of 2002, dated the 15th October, 2002, to the extent not set off against the losses under Part VIII of Chapter III. (5) The provisions of section 111 regarding un-explained income or assets shall not apply in respect of, (i) any amount of foreign exchange deposited in a private Foreign Currency account held with an authorized bank in Pakistan in accordance with the Foreign Currency Accounts Scheme introduced by the State Bank of Pakistan: Provided that the exemption clause shall not be available in respect of any incremental deposits made on or after the 16th day of December, 1999 in such accounts held by a resident person or in respect of any amount deposited in accounts opened on or after the said date by such person. (ii) any amount invested in the acquisition of Three-Years Foreign Currency Bearer Certificates issued under the Foreign Currency Bearer certificates Rules, 1997. (iii) rupees withdrawn or assets created out of such withdrawal in rupees from private foreign currency accounts, or encashment of Foreign Exchange Bearer Certificates, US Dollar Bearer Certificates and Foreign Currency Bearer Certificates. before substitution by Finance Act 2005 clause (5) read as follows (5) The provisions of section 111 shall not apply in respect of any amount of foreign exchange deposited in a private Foreign Currency account held with an authorized bank in Pakistan in accordance with the Foreign Currency Accounts Scheme introduced by the State Bank of Pakistan: Provided that the exemption under this clause shall not be available in respect of any incremental deposits made on or after the 16th day of December, 1999 in such accounts held by a resident person or in respect of any amount (Substituted for quotaccountsquot by Finance Act, 2003) deposited in accounts opened on or after the said date by such person. Clause (6) omitted by Finance Act, 2003 which previously read as follows : quot(6) The provisions of section 111 shall not apply in respect of any amount invested in the acquisition of US Dollar Bearer Certificate issued under the US Dollar Bearer Certificates Rules, 1991.quot Clauses (7) amp (8) omitted by Finance Act, 2005 which previously read as follows : (7) The provisions of section 111 shall not apply in respect of any amount invested in the acquisition of Three-Years Foreign Currency Bearer Certificates issued under the Foreign Currency Bearer certificates Rules, 1997. (8) The provisions (Substituted for quotprovisionquot by Finance Act, 2003) of section 111 shall not apply in respect of rupees withdrawn or assets created out of such withdrawal in rupees from private foreign currency accounts, or encashment of Foreign Exchange Bearer Certificates, US Dollar Bearer Certificates and Foreign Currency Bearer Certificates. Clause (9) omitted by Finance Act, 2003 which previously read as follows : quot(9) The provisions of section 111 shall not apply in respect of any amount invested by a sponsor or an original allottee in the purchase of shares of a company owning and managing an industrial undertaking specified in rule 5A of the Third Schedule of the Income Tax Ordinance, 1979.quot (10) The provisions of section 111, Part-X and Part-XI of Chapter X shall not apply in respect of any amount invested in the purchase of Special US Dollar Bonds issued under the Special U. S. Dollar Bond Rules, 1998: Provided that the exemption under this clause shall not be available in respect of the amount invested in the said Bonds purchased out of incremental deposits made in the existing foreign currency accounts on or after 16th day of December 1999, or out of foreign currency accounts opened on or after the said date, or on payment of the amount referred to in sub-rule (3) of rule 5 of Special U. S. Dollar Bond Rules, 1 998 after the said date. (11) The provisions of section 113, regarding minimum tax, shall not apply to, (i) National Investment (Unit) Trust or a collective investment scheme authorized or registered under the Non-banking Finance Companies (Establishment and Regulation) Rule, 2003, or a real estate investment trust approved and authorized under the Real Estate Investment Trust Rules, 2006 o r any other company in respect of turnover representing transactions in shares, or securities listed on a registered stock exchange (ii) petroleum dealers, in so far as they relate to turnover on account of sale of petroleum and petroleum products, notwithstanding their status as a company, a registered firm or an individual, engaged in retail sale of petroleum and petroleum products through petrol pumps for the purposes of assessment of their income and determination of tax thereon: Provided that this exemption shall not apply to the sale of petroleum and petroleum products through petrol pumps which are directly operated or managed by companies engaged in distribution of petroleum and petroleum products. Explanation. For the removal of doubt it is declared that the companies engaged in distribution of petroleum and petroleum products other than through petrol pumps shall not be entitled to the benefits of this exemption (iii) Hub Power Company Limited so far as they relate to its receipts on account of sale of electricity (iv) Kot Addu Power Company Limited (KAPCO) for the period it continues to be entitled to exemption under clause (138) of Part-I of this Schedule (v) companies, qualifying for exemption under clause (132) of Part-I of this Schedule, in respect of receipts from sale of electricity (vi) Provincial Governments and local authorities, qualifying for exemption under section 49 and other Government or semi-Government bodies which are otherwise exempt from income tax Provided that nothing shall be construed to authorize any refund of tax already paid or the collection of any outstanding demand created under the said section (vii) Pakistan Red Crescent Society (viii) special purpose, non-p rofit companies engaged in scrutinizing the receivables of Provincial Governments or the companies (ix) non-profit organizations approved under clause (36) of section 2 or clause (58) or included in clause (61) of Part-I of this Schedule (x) a taxpayer who qualifies for exemption under clause (133) of Part-I of this Schedule, in respect of income from export of computer soft ware or IT services or IT enabled services (xi) 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 the Second Schedule (xii) a venture capital company, venture capital fund and Private Equity and Venture Capital Fund which is exempt under clause (101) of Part-I of this Schedule (xiii) a Modaraba registered under the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980 (XXXI of 1980) (xiv) Corporate and Industrial Restructuring Corporation (CIRC) (xv) a Small Company as defined in section 2 (xvi) The corporatized entities of Pakistan Water and Power Development Authority, so far as they relate to their receipts on account of electricity, from the date of their creation upto the date of completion of the process of corporatization i. e. till the tariff is notified (xvii) a morabaha bank or a financial institution approved by the State Bank of Pakistan or the Securities and Exchange Commission of Pakistan (SECP), as the case may be, for the purpose of Islamic Banking and Finance in respect of turnover under a morabaha arrangement and (xviii) WAPDA First Sukuk Company Limited. before substitution by Finance Act 2005 clause (11) read as follows (11) The provisions of section 113 shall not apply to National Investment (Unit) Trust or a Mutual Fund established by the Investment Corporation of Pakistan or an investment company registered under the Investment Companies and Investment Advisors Rules, 1971 or any other company in respect of turnover representing transactions in shares, or securities listed on a registered stock exchange. Clauses (12) (13) amp (13A) omitted by Finance Act, 2005 which previously read as follows : (12) The provisions of section 113, in so far as they relate to turnover on account of sale of petroleum and petroleum products shall not apply to petroleum dealers, notwithstanding their (Substituted for quottherequot by Finance Act, 2003) status as a company, a registered firm or an individual, engaged in retail sale of petroleum and petroleum products through petrol pumps for the purposes of assessment of their income and determination of tax thereon: Provided that this exemption shall not apply to the sale of petroleum and petroleum products through petrol pumps which are directly operated or managed by companies (Words quotand registered firmsquot omitted by Finance Act, 2003) engaged in distribution of petroleum and petroleum products. Explanation . For the removal of doubt it is declared that the companies engaged in distribution of petroleum and petroleum products other than through petrol pumps shall not be entitled to the benefits of this exemption. (13) The provisions of section 113 shall not apply to Hub Power Company Limited so far as they relate to its receipts on account of sale of electricity. (13A) The provisions of section 113 shall not apply to Kot Addu Power Company Limited (KAPCO) for the period it continues to be entitled to exemption under clause (138) of Part-I of this Schedule. Clause (14) omitted by Finance Bill, 2006 which previously read as follows : (14) A company registered and authorized by the Federal Government to import gold and silver shall be liable to pay tax on import of gold at the rate of two rupees per eleven grams six hundred and sixty-four milligrams and five rupees per kilogram in the case of silver in accordance with the provisions of section 148 and such payment of tax shall be deemed to be full and final liability of tax in respect of income accruing from such import including liability of tax under section 113. Clause (15) omitted by Finance Act, 2005 which previously read as follows : (15) The provisions of section 113 shall not apply to companies, qualifying for exemption under clause (132) of Part-I of this Schedule, in respect of receipts from sale of electricity. (16) The provisions of sections 113, 148, 151, 153, 155 and 156 (Substituted for quot, 156 and 157quot by Finance Act, 2003) shall not apply to the institutions of the Agha Khan Development Network (Pakistan) listed in Schedule 1 of the Accord and Protocol dated November 13, 1994, executed between the Government of the Islamic Republic of Pakistan and Agha Khan Development Network: Provided that such institutions shall continu e to collect and deduct tax under section 149, 151, 152, 153, 155, 156 or 233 (Substituted for quot113quot by Finance Act, 2003) from others persons, wherever required thereunder: Provided further that in respect of application of section 113, this clause shall take effect from the first day of July, 1991. Clauses (17) amp (18) omitted by Finance Act, 2005 which previously read as follows : (17) The provisions of section 113, shall not apply to Provincial Governments and local authorities, qualifying for exemption under section 49 and other Government or semi-Gov ernment bodies which are otherwise exempt from income tax (Substituted for quotcorporate, Government or semi-Governmental bodies, not otherwise liable to income taxquot by Finance Act, 2003): Provided that nothing contained in this clause shall be construed to authorize any refund of tax already paid or the collection of any outstanding demand created under the said section. (18) The provisions of section 113 shall not apply to Pakistan Red Crescent Society. (19) The provisions of sections 113 and 151 shall not apply to non residents, (excluding local branches or subsidiaries or offices of foreign banks, companies, associations of persons or any other person operating in Pakistan), in respect of their receipts from Pak rupees denominated Government and corporate securities and redeemable capital, as defined in the Companies Ordinance, 1984 (XLVII of 1984), listed on a registered stock exchange, where the investments are made exclusively from foreign exchange remitted into Pakistan through a Special Convertible Rupee Account maintained with a bank in Pakistan. Clauses (20) to (28) omitted by Finance Act, 2005 which previously read as follows : (20) The provisions of section 113 shall not apply to special purpose, non-profit companies engaged in securitizing the receivables of Provincial Governments or the companies. (21) The provisions of section 113 shall not apply to non-profit organisations approved under clause (36) of section 2 or clause (58) or included in (Substituted for quotincluding those approved or included in clause (58)quot by Finance Act, 2003) or clause (61) of Part-I of this Schedule. (22) The provisions of section 113 shall not apply to a taxpayer who qualifies for exemption under clause (133) of Part-I of this Schedule. (23) The provisions of section 113 shall not apply to a venture capital company and venture capital fund which is exempt under clause (101) of Part-I of this Schedule. (24) The provisions of section 113 shall not apply to a modaraba registered under the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980 (XXXI of 1980). (25) Nothing in section 113 shall apply to Corporate and Industrial Restructuring Corporation (CIRC). (26) The provisions of section 148 shall not apply to goods or classes of goods imported by contractors and sub-contractors engaged in the execution of power project under the agreement between the Islamic Republic of Pakistan and Hub Power Company Limited. (27) The provisions of section 148 shall not apply to such specially equipped motor vehicle or support equipment imported by a disabled person, as is allowed by the Federal Government. (28) The provision of section 148 shall not apply to in case of such goods imported into Pakistan as are exempt from customs duties and sales tax under Headings 9913, 9914 and 9915 of Sub-Chapter III of Chapter 99 of First Schedule the Customs Act, 1969 (IV of 1969) (Substituted for quotSROs 360(I)2000, 362(I)2000 and 363(I)2000 dated 17.06.2000quot by Finance Act, 2003) (29) The provisions of section 148 shall not apply to goods imported by direct and indirect exporters covered under --- (a) Sub-Chapter 4 of Chapter XII of SRO 450(I)2001 dated 18.06.2001 (b) Sub-Chapter 6 of Chapter XII of SRO 450(I)2001 dated 18.06.2001 and (c) Sub-Chapter 7 of Chapter XII of SRO 450(I)2001 dated 18.06.2001 (30) The provisions of section 148 shall not apply in respect of goods specified under Heading 9929, Sub-Chapter VIII of Chapter 99 of the First Schedule to the Customs Act, 1969 (IV of 1969) Clauses (29) and (30) substituted by Finance Act, 2003 which previously read as follows: quot(29) The pro visions of section 148 shall not apply to goods imported by direct and indirect exporters covered under:- (i) the Manufacturing in Bond Rules, 1997, issued under Notification No. S. R.O. 1140(I)97, dated the 6th November, 1997 (ii) the Common Bonded Warehouse (Conventional) Rules, 1998 issued under Notification No. S. R.O. 843(I)98, dated the 23rd July, 1998 and (iii) the Duty and Tax Remission for Export Rules, 2001, issued under Notification No. S. R.O. 185(I)2001, dated the 21st March 2001. (30) The provisions of section 148 shall not apply in respect of goods temporarily imported into Pakistan for subsequent exportation and which are exempt from customs-duty under Notification No. S.R. O.410(I)2001, dated the 18th June, 2001, and the goods specified at S. Nos. 22 and 23 in Table-II of the Notification No. S. R.O. 444(I)2001, dated the 18th June, 2001.quot Clauses (31) (31A) amp (31B) omitted by Finance Act, 2005 which previously read as follows : (31) The provisions of section 148 shall not apply in respect of such mobile telephone sets as are exempt from custom duty and are charged to sales tax in the manner prescribe in the Notification No. S. R.O 390(I)2001 dated 18th June, 2001. (31A) The provisions of section 148 shall not apply to plant, machinery and equipment imported as are subject to 5 rate of customs-duty under Chapter 84 of the First Schedule to the Customs Act, 1969 (IV of 1969), or are exempt from customs-duty or subject to a lower rate of customs-duty under relevant Customs notifications. 31B) The provisions of section 148 shall not apply in respect of agricultural tractors imported in CBU condition. Clause (32) omitted by Finance Act, 2003 which previously read as follows : quot(32) The provisions of sections 149 and 152 relating to fee for technical services shall not apply to Ms Siddiq Sons Tin Plate Limited in respect of salaries of expatriate employees, royalty or technological and know-how fee for technical assistance for projects located in Special Industrial Zone, Windher, Balochistan, who have established LCs prior to the 31st January, 1996.quot (33) The provisions of sections 151 and 233 shall not apply to any person making payment to National Investment (Unit) Trust or a mutual fund established by the Investment Corporation of Pakistan or an investment company registered under the Investment Companies and Investment Advisers Rules 1971 or a unit trust scheme constituted by an Asset Ma nagement Company registered under the Asset Management Companies Rules, 1995 or a real investment trust, approved and authorized under the Real Estate Investment Trust Rules, 2006, establis hed and managed by a REIT management company licensed under the Real Estate Investment Trust Rules, 2006 or a Private Equity and Venture Capital Fund. Clauses (34) amp (35) omitted by Finance Act, 2005 which previously read as follows : (34) The provision of section 151 shall not apply in respect of profit or interest paid on a Term Finance Certificate held by a company which has been issued on, or after, the first day of July, 1999. (35) The provisions of section 151 shall not apply to any payment made by way profit or interest to any person on Term Finance Certificates being the instruments of redeemable capital under the Companies Ordinance, 1984 (XLVII of 1984), issued by Prime Ministers Housing Development Company (Pvt) Limited (PHDCL). (36) The provisions of clause (c) of sub-section (1) of section 151 shall not apply in respect of any amount paid as interest or profit on Special US Dollar Bonds issued under the Special US Dollar Bonds Rules, 1998. (36A) The provisions of clause (a) of sub-section (1) of section 151 shall not apply in respect of any amount paid as yield or profit on investment in Bahbood Savings Certificate or Pensioners Benefit Account. Clause (37) omitted by Finance Act, 2005 which previously read as follows : (37) The provisions of section 151 shall not apply to Pak rupee accounts or certificates referred to in clause (83) of Part I of this Schedule. (38) The provisions of section 151, 153 and 233 shall not apply to special purpose vehicle for the purpose of securitization. (38A) The provisions of sections 150, 151 and 233 shall not apply to a Venture Capital Company (38B) The provisions of section 150 shall not apply to the Islamic Development Bank. Clause (39) omitted by Finance Act, 2003 which previously read as follows : quot(39) The provisions of section 151 shall not apply to a person who produces a certificate from the Commissioner of Income Tax concerned to the effect that his income during the income year is exempt from tax. quot clause (40) shall omitted by Finance Act 2005 and, notwithstanding any judgment, order or decision of any Court, Tribunal or Authority including Income Tax Authority, shall be deemed always to have been so omitted and shall have effect accordingly before omitting clause 40 read as follows:- (40) The provisions of sub-section (6) of section 153 in so far as they relate to payments on account of supply of goods from which tax is deductible under the said section shall not apply in respect of any person being a manufacturer of such goods, unless he opts for the presumptive tax regime: Provided that a declaration of option is furnished in writing within three months of the commencement of the tax (Subs tituted for quotincomequot by Finance Act, 2003) year and such declaration shall be irrevocable and shall remain in force for three years: Provided further nothing contained in this clause shall apply to any manufacturer of goods for which special rates of deduction of tax are specified under the repealed (Substituted for quotreplacedquot by Finance Act, 2003) Ordinance. (41) The provisions of su b-section (1B) of section 152 (words quot(7) of section 153quot substituted by Finance Bill 2006) shall not apply in respect of a non-resident person unless he opts for the presumptive tax regime: Provided that a declaration of option is furnished in writing within three months of the commencement of the tax (Substituted for quotincomequot by Finance Act, 2003) year and such declaration shall be irrevocable and shall remain in force for three years. (41A) Notwithstanding anything contained in the Finance Act, 2005 (VII of 2005), with respect to the omission of clause (40) of Part IV of the Second Schedule to this Ordinance, nothing in sub-section (6A) of Section 153 of this Ordinance shall apply to any person being a manufacturer, where declaration of option for the presumptive tax regime has been furnished and transactions pertaining to such option have been undertaken and completed on or before the 30th June, 2005 Provided that all declaration of options already furnished shall cease to have effect after the 30th June, 2005. (41B) The provisions of sub-section (2) of section 152 shall not apply in respect of payments to foreign news agencies, syndicate services and non-resident contributors, who have no permanent establishment in Pakistan. (42) The provisions of sub-section (6) of section 153 shall not apply in respect of payments received by a resident person for providing services by way of operation of container or chemical or oil terminal at a sea-port in Pakistan or of an infrastructure project covered by the Governments Investment Policy, 1997. (43A) The provisions of sub-section (1) of section 153 shall not apply to payments received by a person including Permanent Establishment of Non-resident Petroleum Exploration and Production (EampP) Companies on account of supply of petroleum product imported by the same person under the Government of Pakistans de-regulation policy of POL products Clause (43A) substituted by Finance Act, 2003, which previously read as follows : quot(43A) The provisions of section 153, shall not apply to payments received by Ms Total PARCO Pakistan Limited for the supply of petroleum products. (43B) The provisions of clause (a) sub-section (1) of section 153 shall not apply to payments received on sale of air tickets by traveling agents, who have paid withholding tax on their commission income. Clauses (43B) and (43C) omitted by Finance Act, 2003, which previously read as follows : quot(43B) The provisions of section 153 shall not apply to the payments received by Al Rahim Trading Co. (Pvt) Limited, Karachi for the supply of petroleum products. (43C) The provisions of section 153 shall not apply to the payments received by Hascombe Storage (Pvt) Limited, Karachi, for the supply of petroleum products. quot Clause (44) omitted by Finance Act, 2005 which previously read as follows : (44) The provisions of section 148 shall not apply to an indirect exporter as defined in the Duty and Tax Remission for Export Rules, 2001 issued under Notification No. S. R.O. 185(I)2001, dated the 21st March 2001. (45) The provisions of sub-section (1) (Substituted for quot(6)quot by Finance Act, 2003) of section 153 shall not apply to any manufact urer-cum-exporter as the prescribed person (Substituted for quota payerquot by Finance Act, 2003) . (a) the manufacturer-cum-exporter shall deduct tax from 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 manufacture-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 under the provisions of the repealed Ordinance (Substituted for quotin exercisequot by Finance Act, 2003) . (46) The provisions of sub-section (1) of section 153 shall not apply to any payment received by an oil distribution company or an oil refinery for supply of its petroleum products. (47) The provisions of sections 151 and 155 shall not apply to a person who produces a certificate from the Commissioner of Income Tax concerned to the effect that his income during the income year is exempt from tax. (47) The provisions of sections 151 and 155 shall not apply to a person who produces a certificate from the Commissioner of Income Tax concerned to the effect that his income during the income year is exempt from tax. (47A) The provisions of section 153 shall not apply in respect of payments received by a resident person for supply of such goods as were imported by the same person and on which tax has been paid under section 148. (47B) The provisions of section s 150, 151 and 233 shall not apply to any person making payment to National Investment (Unit) Trust or a mutual fund established by the Investment Corporation of Pakistan or a collective investment scheme authorized or registered under the Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003 or a modaraba (Substituted for quotan Investment Company registered under the Investment Companies and Investment Advisors Rules, 1971 or a Unit Trust Scheme constituted by an Asset Management Companies Rule, 1995, or a modaraba management companyquot by Finance Act, 2003) or Approved Pension Fund or an Approved Income Payment Plan constituted by a Pension Fund Manager registered under Voluntary Pension System Rules, 2005 or a Real Est ate Investment Trust approved and authorized under the Real Estate Investment Trust Rules, 2006 established and managed by a REIT Management Company licensed under the Real Estate Investment Trust Rules, 2006 or a Private Equity and Venture Capital Fund. (47C) The provisions of sub-section (1) of section 154 shall not apply to an exporter in respect of cooking oil or vegetable ghee exported to Afghanistan, from whom advance tax has been collected under section 148 on import of edible oil. (47D) The provisions of sub-section (6A) of section 153 shall not apply to cotton ginners. Clauses (48), (49), (50) and (51) omitted by Finance Act, 2003, which previously read as follows : quot(48) The provisions of section 236 shall not apply to a person who produces a certificate from the Commissioner of Income Tax concerned to the effect that his income during the income year is exempt from tax. (49) The provisions of section 236 shall not apply where the subscriber is a nontaxable non-profit organisation. (50) The provisions of section 234 shall not apply to a person who produces a certificate from Commissioner of Income Tax concerned to the effect that his income during the income year is exempt from tax. (51) The provisions of section 235 shall not apply to a person who produces a certificate from the Commissioner of Income Tax concerned to the effect that his income during the income year is exempt from tax. quot (52) The provisions of clause (vi) of Notification No. SRO 593(I)91, dated the 30th June, 1991, shall not apply to any importer being an industrial undertaking engaged in the manufacture of vanaspati ghee or oil. Clauses (53) amp (54) omitted by Finance Act, 2005 which previously read as follows : (53) The provisions of sections 148 and 153 shall not apply to the wheat imported by Trading Corporation of Pakistan in pursuance of economic coordination committee of the cabinets decision No. ECC-6752004 dated the 2nd July, 2004. (54) The provisions of section 148 shall not apply to sugar imported in pursuance pursuance of economic coordination committee of the cabinets decision No. ECC1622005 dated the 08.02.2005quot (56) The provisions of section 148, regarding withholding tax on imports, shall not apply in respect of (i) goods or classes of goods imported by contractors and sub-contractors engaged in the execution of power project under the agreement between the Islamic Republic of Pakistan and Hub Power Company Limited. (ii) such specially equipped motor vehicle or support equipment imported by a disabled person, as is allowed by the Federal Government. (iii) such goods imported into Pakistan as are exempt from customs duties and sales tax under Headings 9913, 9914 and 9915 of Sub-Chapter III of Chapter 99 of First Schedule the Customs Act, 1969 (IV of 1969). (iv) goods imported by direct and indirect exporters covered under - (a) Sub-Chapter 4 of Chapter XII of S. R.O. 450(I)2001 dated18.06.2001 (b) Sub-Chapter 6 of Chapter XII of S. R.O. 450(I)2001 dated 18.06.2001 and (c) Sub-Chapter 7 of Chapter XII of S. R.O. 450(I)2001 dated 18.06.2001 (v) goods specified under Heading 9929, Sub-Chapter VIII of Chapter 99 of the First Schedule to the Customs Act, 1969 (IV of 1969). (vi) Liquefied Petroleum Gas (LPG) (vii) Liquefied Natural Gas (LNG) Clauses (vi) and (vii) substituted by Finance Bill 2006, which previously read as follows : (vi) such mobile telephone sets as are exempt from custom duty and are charged to sales tax in the manner prescribed in the Notification No. S. R.O. 390(I)2001 dated the 18th June, 2001. (vii) plant, machinery and equipment imported as are subject to 5 rate of customs-duty under Chapter 84 of the First Schedule to the Customs Act, 1969 (IV of 1969), or are exempt from customs-duty or subject to a lower rate of customs-duty under relevant Customs notifications. (viii) agricultural tractors imported in CBU condition. (ix) an indirect exporter as defined in the Duty and Tax Remission for Export Rules, 2001 issued under Notification No. S. R.O. 85(I)2001, dated the 21st March 2001. (x) Radio Navigational Aid Apparatus imported for an airport or on after First January, 2006. Clause (x) substituted by Finance Bill 2006, which previously read as follows : (x) wheat and wheat flour imported by Trading Corporation of Pakistan in pursuance of Economic Coordination Committee of the Cabinets Decision No. ECC.6752004 dated the 2nd July, 2004. Clause (xi) omitted by Finance Bill 2006, which previously read as follows : (xi) sugar imported in pursuance of Economic Coordination Committee of the Cabinets decision No. ECC 1622005 dated 08.02.2005. (xii) import of the following items, namely: (e) halal meat of (f) live animals (bovine animals i. e. buffalos, cows, sheep, goats and camels only)and Clause (xiii) omitted by Finance Bill 2006, which previously read as follows : (xiii) cement imported in pursuance of Economic Coordination Committee of the Cabinets decision No. ECC-12482005, dated the 1st September, 2005. (xiv) goods donated for the relief of earthquake victims as are exempt from customs duties and sales tax and (xv) tents. tarpaulin and blankets. Clause (xvi) omitted by Finance Bill 2006, which previously read as follows : (xvi) off-highway dump trucks and transit mixers. xvii import of ships and floating craft including tugs, dredgers, survey vessels and other specialised crafts registered in Pakistan. (xviii) goods specified in column (2) of the Table below, falling under the PCT heading number mentioned in column (3) of the said Table, namely:- Description of goods. PCT heading number. (xx) goods temporarily imported into Pakistan for subsequent exportation and which are exempt from customs duty and sales tax under Notification No. S.R. O.1065(I)2005, dated the 20th October, 2005. (xxi) capital goods imported by a manufacturer whose sales are 100 exports and produces a certificate from the Commissioner of Income Tax to the effect that the imported capital goods shall be (a) installed in his own industrial undertaking and (b) exclusively used for production of goods to be exported. (xxii) Capital goods and raw material imported by manufacturer exporter registered with Sales Tax Department as a manufacturer. (xxiii) Petroleum (EampP) companies covered under SRO.678(I)2004 dated 07.08.2004 except motor vehicles imported by such companies. (xxiv) Companies importing high speed diesel oil, light diesel oil, high octane blending component or motor spirit, furnace oil, JP-1, MTBE, kerosene oil, crude oil for refining and chemical use in refining thereof in respect of such goods (xxv) The re-importation of re-usable containers for re-export qualifying for customs-duty and sales tax exemption on temporary import under the Customs Notification No. S. R.O. 344(I)95 dated the 25th day of April, 1995and (xxiv) goods donated for relief of flood victims of year 2007 as exempt from sales tax and custom duty (57) The provisions of sections 113, 148 and 153 shall not apply to companies operating Trading Houses which - (i) have paid up capital of exceeding Rs.250 million (ii) own fixed assets exceeding Rs.300 million at the close of the Tax Year (iii) maintain computerized records of imports and sales of goods (iv) maintain a system for issuance of 100 cash receipts on sales (v) present accounts for tax audit every year and (vi) is registered with Sales Tax Department: Provided that the exemption under this clause shall not be available if any of the aforementioned conditions are not fulfilled for a tax year, Provided further that the exemption from application of section 113 shall be available for the first ten tax years, starting from the tax year in which the business operations commenced. (57A) The provisions of sections 153 and 169 shall not apply to large import houses: Provided that the exemption under this clause shall not be available if any of the conditions provided in section 148 are not fulfilled for a tax year (58) The provisions of section 205 shall not apply to telecom companies for default of not collecting withholding tax under section 236 (1)(b) on sale of prepaid cards during tax year 2004, if the amount not collected is deposited within three months: Provided that nothing contained in this clause shall apply to the amounts collected under section 236(1)(b), but not deposited in the Treasury. (59) The provisions of section 151, regarding withholding tax on profit on debt, shall not apply - (i) in respect of profit or interest paid on a Term Finance Certificate held by a company which has been issued on, or after, the first day of July, 1999 (ii) to any payment made by way profit or interest to any person on Term Finance Certificates being the instruments of redeemable capital under the Companies Ordinance, 1984 (XLVII of 1984), issued by Prime Ministers Housing Development Company (Pvt) Limited (PHDCL) (iii) to Pak rupee accounts or certificates referred to in clause (83) of Part-I of this Schedule and (iv) in the case of any resident individual, no tax shall be deducted from income or profits paid on,- (a) Defence Savings Certificates, Special Savings Certificates, Savings Accounts or Post Office Savings Accounts, or Term Finance Certificates (TFCs), where such deposit does not exceed one hundred and fifty thousand rupees and (b) Investment in monthly income Savings Account s Scheme of Directorate of National Savings, where monthly installment in an account does not exceed one thousand rupees. (60) Provisions of sections 148 and 153 shall not apply to fully as well partly designedassembled cypher devices, for use within the country as are verified by Cabinet Division (NTISB) (words quotNTISBquot substituted by Finance Bill 2006) with reference to design, quality and quantity (61) The provisions of section 231A shall not apply in respect of any cash withdrawal, from a bank, made by an earthquake victim against compensation received from GOP including payments through Earthquake Reconstruction and Rehabilitation Authority (ERRA) account. (62) The following provisions of Section 97 shall not apply in case of transfer of assets on amalgamation of companies or their businesses or acquisition of shares, requiring that transferor: (a) be resident company and (b) belong to a wholly-owned group of resident companies. ( i ) the transferee resident company shall own or acquire atleast 75 of the share capital of the transferor company or the business in Pakistan of the transferor company (ii) the amalgamated company is a company incorporated in Pakistan (iii) the assets of the amalgamating company or companies immediately before the amalgamation become the assets of the amalgamated company by virtue of the amalgamation, otherwise than by purchase of such assets by the amalgamated company or as a result of distribution of such assets to the amalgamated company after the winding up of the amalgamating company or companies (iv) the liabilities of the amalgamating company or companies immediately before the amalgamation become the liabilities of the amalgamated company by virtue of the amalgamation and (v) the scheme of amalgamation is sanctioned by the State Bank of Pakistan, any court or authority as may be required under the lawThe 8220Tax Season8221 is here, again. There have been some minor changes since our last article published in 2012. Our last article (read here) was based on old format of BE Form 8211 a form for resident who does not carry on business in Malaysia. Since then, Inland Revenue Board of Malaysia has came out hellip T he 8220Tax Season8221 is here, again. There have been some minor changes since our last article published in 2012. Our last article (read here ) was based on old format of BE Form 8211 a form for resident who does not carry on business in Malaysia. Since then, Inland Revenue Board of Malaysia has came out with a much simplified BE Form. Nevertheless, as usual, taxpayers (employed individuals) have until April 30 to file their tax returns. As compared to our previous article, this article provides guidance for e-filing system. The mapping of items in this article is based on BE Form 2013. So, before you start logging into e-filing system it8217s advisable to go to the following sites to print or save a copy: Again, to prevent frustration of not being able to access e-filing system due to heavy internet traffic, it8217s advisable not to wait till last minute to perform your duty as a good and obedient citizen (grin). But if you don8217t mind a fine of between RM200 (min) to RM2,000 (max) or spend some time squatting in prison (not exceeding 6 months), then by all means ignore the submission. And if you8217re thinking of understating your income, it8217s better not to submit at all because the fine for such offence is much more serious 8211 fine of between RM1,000 to RM10,000 plus 200 of tax undercharged. No matter how you look at it, you can8217t run away from a hungry and deep-in-debt government. Actually you should look forward to this tax season as this is perhaps the only time you can demand money from the government 8211 excess in tax paid. Since employers normally pay more in the employees8217 monthly tax deduction to the government, (in most cases) government owes employees money. In fact, government should pay you the excess in tax paid plus 8220interest8221 . which you could otherwise earn if you put the money to work in a bank. That8217s why it8217s always a lose-lose situation for employees. Unless you8217re doing your own business, chances are you8217re paying huge amount of hard earned money to the Inland Revenue Department, in this case Lembaga Hasil Dalam Negeri. As an employee, what you can do is to maximize whatever allowable items within the 8220Part F: Deductions8221 section when you file your tax return. The BE Form is quite similar to the e-filing interface upon login so it8217s advisable to put those figures on the form before you enter it to the e-filing system. After successfully login to e-filing, you will land on 8220e-BE Year of Assessment8221 page. Basically, there8217re four (4) parts or pages in e-filing website namely: Page-1 of e-filing (e-BE Year Assessment) : We8217re not going into details about Part A (Particulars of Individual) , Part C (Particulars of Husband Wife), Part D (Other Particulars 8211 contact and banking information) or Part E (Income of Preceding Years Not Declared) simply because those information do not change much unless you enjoy remarry, shifting home and changing banking accounts every year. Anyway, below is how e-filing looks like upon logging to the first screen. When you8217re in first page of e-filing, the only thing you may need to change is 8220Type of Assessment8221 8211 whether to choose 8220Joint with Spouse8221 or 8220Separate8221. Obviously, if your spouse is not working, then you choose 8220joint8221 but if both are working, it8217s more beneficial to declare separately. That would leave us with Part B and Part F. Take note that by now, you should have received your EA form from your company. Page-2 of e-filing (e-BE Year Assessment) : The interesting part starts with 8220Part B: Statutory Income and Total Income8221 whereby you declare all your incomes. The item 8220B1 8211 income from employment8221 is the most important as this is your annual income, the main part which government uses to tax you monthly. You can get this figure from your EA form, which is your total income for the whole year of last year. If you invest in stock or shares, unit trust and paid dividends during the assessment period, then you8217ve to declare it at item 8220B2 8211 income from dividends8221. Click on the button 8220HK38221 (another screen will appear) and fill in those information about your dividends earned in last year. Most don8217t really care about this minor item but do you know that some of your dividends paid may be the amount after 8220Income Tax at 25 8220 Click to Enlarge Income Tax e-filing 8211 Dividends This simply means the government already taxed the max of 25 on your gross dividend, and what you had gotten was a deducted net dividend. In short, you 8220must8221 claim back your money here . provided your tax bracket is lower than 25. Although a new rule says all listed companies must pay your tax, some stubborn companies have yet to comply. But if all your dividend vouchers stated 8220Zero8221 in income tax column, you can ignore this part. What if you invest in foreign stock market such as the U. S. New York Stock Exchange or Nasdaq Do you need to pay tax from your overseas capital gains This statement perhaps will clear the air 8211 8220 With effect from the year of assessment 2004, income derived from outside Malaysia and received in Malaysia by resident individual is exempted from tax .8221 In short, you don8217t have to pay any tax due to double taxation treaties (grin). Next, if you earn income from rentals from houses, shophouses, land, plant, machines, furniture and your hamsters, you8217ve to declare it in 8220B2 8211 income from rents8221 . Note that both 8220B2 8211 income from dividends8221 and 8220B2 8211 income from rents8221 are presented as a single item in 2013 BE Form (B2 8211 income from dividends and rents) though. Again, most people don8217t declare this extra rentals income for obvious reason. Who in their right mind would be so honest (or rather dumb) to pay extra to the government only to be used to buy radars that couldn8217t detect UFOs (tongue-in-cheek), right Well, as long as you don8217t get caught I supposed rentals declaration is a debatable and could be hard to trace. Besides, you8217re paying your property assessment to 8220dewan bandaraya8221 (city hall) every half-yearly already. Item B3 is concerning interest, royalties, part-time jobs and whatnot. Interest earned from FD (fixed deposit) or banking deposit is exempted. Royalties above certain amounts as a result from copyrights earning are taxable. The same goes to part-time lecturing, writing etc. But seriously, who would declare such part-time jobs8217 income, right As long as the figure is not 8220substantial8221 enough, this is a 8220blind-spot8221. Unless you8217re one of government8217s cronies and need to suck up to them, you normally don8217t give away money, artefacts and your van Gogh paintings to the them. But still, if you8217re charitable enough, you can declare any donations to 8220approved8221 institutions such as old-folk homes, foundations, associations, temples, churches, mosque and whatnot, in Part B item B5 . of which you can get tax relief. The list of such institutions under Section 44(6) ITA 1967 can be found here . Your total income will be calculated automatically in item B6. The amount of monthly tax deductions paid for the whole of last year should be appeared automatically in item B18 the moment you come to this second page of e-filing. The figure in item B18 should be the same as shown in your EA Form. If this figure does not appear in B18, then something is wrong with your monthly tax contribution. Page-3 of e-filing (e-BE Year Assessment) : Part F is the most important part because it determines your taxable amount. This part equals to deductable expenses and you will be surprise on how much you had previously overpaid (to government), due to ignorance. As a starting point, every individual is given a RM9,000 default relief. Let8217s go to each of them, shall we F2 8211 Medical treatment, special needs and carer expenses for parents. The scope includes medical care and treatment provided by a nursing home and even dental treatment limited to tooth extraction, filling, scaling and cleaning. However, you can8217t claim if your parents8217 plan were to impress friends relatives by crowning their tooth with gold though. The limit is RM5,000 so there8217s huge room to spend. F3 8211 Basic supporting equipment for disabled self, spouse, child or parents. Basic supporting equipment includes haemodialysis machine, wheel chair, artificial leg and hearing aids but exclude optical lenses and spectacles. Maximum claimable amount is RM5,000. F4 8211 Nobody likes this but if you8217re a disabled individual, you are allowed an additional RM6,000 in personal relief. F5 8211 Education Fees (self) 8211 should you further your study for 8220any course of study8221 at Masters or Doctorate level . then you should declare this item for a deduction of up to RM5,000 max. Unfortunately this is not applicable for diploma, higher diploma or Bachelor degree, unless it8217s for the purpose of acquiring 8220law, accounting, Islamic financing, technical, vocational, industrial, scientific or technological skills or qualifications.8221 F6 8211 Medical expenses on serious diseases for self, spouse or child which include AIDS, cancer, Parkinson8217s disease, leukaemia, heart attack, major burns and even hypertension. Maximum amount deductable is RM5,000. F7 8211 Complete medical examination for self, spouse or child. You should use up the RM500 limit on this item, example, yearly medical checkup or comprehensive blood-check from Pathlab or BP Healthcare. Take note that the total deduction for above F6 and F7 is limited to RM5,000. Thus, if you used up F78217s RM500, you can only claim RM4,500 for item F6 above. F8 8211 Purchase of booksmagazinesjournalssimilar publications (except newspapers and banned reading materials) for self, spouse or child 8211 another splendid area where you should spend to the limit (if possible) of RM1,000. Some of the magazines you can consider includes investment, automobile, business, smartphone, finance related and whatnot. Also you can buy tons of books (either printed or electronic from Amazon or Apple Inc.8217s (Nasdaq: AAPL. stock ) AppStore for yourself, spouse of kids. So, remember to insists on receipts the next time you buy these materials. F9 8211 Purchase of personal computer for individual (deduction allowed once in every 3 years, limited to RM3,000). Perhaps too many people realized that tablet such as iPad was not such a bad purchase after all as it was tax deductible. Unfortunately, IRD plugged the loophole and beginning Year Assessment 2013 . tablets such as iPad is no longer qualified for such relief. The definition of computers are now confined to desktop computer, laptop, notebook and ultrabook (sigh). I supposed early bird catches the worm. F11 8211 Purchase of sports equipment for any sports activity . restricted to RM300. Sports equipment includes equipment with short lifespan such as golf balls and even shuttlecocks but excluding sports attire such as swimsuits and sports shoes. You may scream till foam at mouth 8211 how the heck do you expect a person to swim without swimsuits or run without a pair of running shoes. Perhaps the government thougt it would be better to swim naked or running barefoot like a chicken (grin). Broadband Tax Relief 8211 Previously, you can claim tax relief on broadband usage be it land-line TM Streamyx or Wireless Internet broadband packages offered by Maxis, Celcom or DIGI 8211 up to a maximum RM500. However this goodies was only applicable for year assessment 2010 to 2012. Hence, this item has been removed from e-filing and BE Form altogether 8211 this popular tax relief is 8220GONE8221. F12 8211 Interest on housing loan 8211 An amount limited to a maximum of RM10,000 is deductible for each basis year for a period of three consecutive years of assessment beginning from the date in which the interest is first expended. However the Sale and Purchase (SampP) Agreement must be executed between 10 March 2009 to 31 December 2010. F13 8211 Payment of alimony 8211 Divorce is quite common nowadays, so if you8217ve been paying your former wife last year, remember to deduct on this item, up to RM3,000. It8217s true you might have paid more than this amount but it8217s better than none. F15 8211 If you have children, don8217t forget to claim tax relief on this part. Of course if your kids have already married then ignore this lest you wish to test if IRD officers sleep on their job, just like how those bunch of radar operators missed the flight MH370. Maintenance of a child below the age of 18 is allowed a relief of RM1,000. Child of 18 years and above and studying (diploma or higher) gets additional RM6,000 relief each. F16 8211 Life insurance and provident fund . limited to RM6,000. You should not ignore this part due to the huge sum of tax relief allowed. This part consists of both (monthly) EPF contribution and life insurance premium paid. Some made the silly mistake thinking this is applicable to insurance premium only. They have forgotten about their EPF contribution so they totally ignored this cool RM6,000 tax relief. If you8217re earning RM4,550 monthly, your annual EPF contribution would have already used up the RM6,000 tax relief alone. F17 8211 Private Retirement Scheme 8211 effective from year assessment 2012 to 2021, anyone contributes to private retirement scheme approved by the Securities Commission is entitled to a maximum RM3,000 in tax relief. This is similar to EPF contribution but primarily tailored for self-employed persons such as hawkers, plumbers etc. Of course, you can opt for this option on top of EPF contribution but why lock yourself when you can freely invest your own money F18 8211 Education and medical insurance. A relief not exceeding RM3,000 is available on insurance premiums paid in respect of education or medical benefits for an individual, husband, wife, or child. With the escalating medical expenses nowadays, most people would have some sort of medical plan already, such as the infamous 36-critical illnesses insurance coverage. Therefore, remember to include this for tax relief. The above 15 items are perhaps the most important deductions you should pay extra attention. Sure, not all deductions allowable in 8220Part F8221 are relevant to you but it8217s always worthwhile to spend some time on this section. The objective is to pump a figure as huge as possible into item 8220F19 8211 Total Relief8221 (to be transferred to item B9 as per BE Form). Page-4 of e-filing (e-BE Year Assessment) : The last part of e-filing 8211 Tax Summary 8211 is the most interesting part. It8217s like those days when you8217re waiting for your school examination8217s results to be released. This page shows your total income, less total relief, less special RM2,000 relief and of course, the 8220Chargable Income8221. This chargable income is used to calculate your actual tax chargable. Remember your overpaid dividends This is where you get back your money. After you8217ve creatively used up all the deductible reliefs to the max, the next thing to do is to keep track of your banking account as the government would be refunding tax paid in excess very soon. This is only a small part you can do to squeeze back money that government had taxed you. There are other ways to put more money into your own pocket. As long as your income doesn8217t appears in your EA Form as income, you8217re taking 100 of the money. As a start, discuss with your boss if your take-home income can be arranged in such a way that non-taxable allowance be increased instead of basic salary. For example, up to RM2,400 travelling allowance is tax free. Meal allowance, parking allowance, childcare allowance are some allowances that you can toy around to reduce your income tax. Having said that, please keep all your receipts for at least 7-years. Happy Tax Season. Other Articles That May Interest You Comment by JENNIFER CHEAH on March 24, 2014 at 11:53 am Q1) In the year of 2013, my godmother (she took care of me since I was a baby) went through an operation at the private hospital and the bill was paid by me. Can this bill be claimed under F2 Q2) After the operation, my godmother needs proper nursing care and I have placed her in a nursing home which monthly I have to pay for to the nursing home. Is this claimable Comment by financetwitter on March 24, 2014 at 1:17 pm F2 is for parents only, not even mother-in-law or father-in-law qualifies for F2 8230 However, as provided by S46(1)(c) Income Tax Act 1967, it does not 8220properly8221 define who the parent is. In general, parent could include foster parent of an adopted child 8230 You may wish to pay a visit or make a call to IRD for clarification on your situation 8230 Comment by Ivy Ting on March 24, 2014 at 3:46 pm Hello..I would like to understand more why u said rental income is not easily detected by IRB I checked with officer before, they also said we can choose not to declare it. But I dont get the logic behind. Mind to share more. Thanks But once I declared I should continue to declare it if not it will look weird if they compared the figures with last year right Comment by Stevenson Yip on March 24, 2014 at 7:16 pm Hi, if i m eligible for interest on housing loan deduction, and the loan is under joint name 8211 my wife and me and we both opt for ind tax declatation, would like to know whether can I declare the total interest under my name (as my tax blacket is higher) or it must divide by 2 Comment by Faizal Lee on March 24, 2014 at 8:10 pm I always ignore dividend earned from unit trust. I thought that small amount doesn8217t contribute much when I do my e-filing every year. Thank you very much for your article and it has helped me understand better. Comment by ryan on March 25, 2014 at 8:05 am For the B1. if I got fixed allowance from my company and it showed on my EA form. Do I deduct my allowance from my total income before entering the value at B1. Example total income monthly RM 2000 allowance RM200 RM2200. 12 x 2200 26400. 12 x 200 2400. 26400 8211 2400 24000. B1 I enter 24000. Comment by ryan on March 25, 2014 at 8:42 am Also for 2013 tax those that earn below RM8000 will get additional rm2000 deduction I heard Mean I deduct it from my B1 Comment by mazli on March 25, 2014 at 11:32 am pengecualian cukai Max RM5,000.00: Yuran pendidikan (sendiri) : (i) peringkat selain Sarjana dan Doktor Falsafah 8211 bidang undang-undang, perakaunan, kewangan islam, teknikal, vokasional, industri, saintifik atau teknologi (ii) peringkat Sarjana dan Doktor Falsafah 8211 sebarang bidang atau kursus pengajian Comment by Senad on March 25, 2014 at 7:43 pm Hi, are foreigners eligible for these deductions Thank you. I have a question On the category B of my EA form there is 3 section of my total income aa) Gaji kasar, upah atau gaji cuti (termasuk gaji lebih masa) bb) Fi (termasuk fi pengarah), komisen atau bonus cc) Tip kasar, perkuisit penerimaan sagu hati atau elaun-elaun lain ( Perihal pembayaran8230823082308230.) Does it mean I add aabbcc as my pendapatan berkanun pengajian 8220B18221 Comment by Ivy on March 26, 2014 at 5:23 pm F18 Education and medical insurance. A relief not exceeding RM3,000 is available on insurance premiums paid in respect of education or medical benefits for an individual, husband, wife, or child. Que: does it mean that we can claim medical and education insurance relief if we have purchase one for our kids Some said only self insurance Thanks Comment by financetwitter on March 26, 2014 at 10:01 pm I assume there8217re 2 parts to your query 8211 childcare relief and alimony 8230 Note that both are separate items 8230 F13 8211 alimony to former wife) 8230 F15 8211 childcare relief 8211 F13 is quite straight forward, but note that voluntary alimony payment to a former wife under a 8220mutual agreement8221 but without any formal agreement does not qualify as a deduction. 8211 also, payment of alimony to former wife is not allowed in the case where the ex-husband claimed deduction for wife. 8211 F15 is about childcare relief 8230 you (and your ex-husband) can choose (and agree) either 8220100 Eligibility8221 or 822050 Eligibility8221 8230 that8217s why there8217s another 50 column in F15 item 8230 8211 in short, 822050 Eligibility8221 applies where two or more individuals (not husband and wife living together eg. divorced parents and foster parents) are each entitled to claim a deduction for payments made in respect of the same child 8230 the deduction allowed to each of those individuals is 50 of the allowable deduction. Comment by financetwitter on March 26, 2014 at 10:01 pm Comment by financetwitter on April 8, 2014 at 7:54 pm Of course you can, Tan 8230 There8217s no specific rule that restricts people from buying computer online or from another country 8230 However, this relief is only applicable if the computer is for personal usage 8230 If it8217s for business purpose, there8217s 8220NO8221 deduction allowed 8230 If I were caught by IRD and they try to be funny saying the computer must be purchased in Malaysia, I8217ll tell them I tried to get cheapest computer overseas in order to pay 8220more8221 tax to the government 8230 I8217m sure they would love me For F3 (basic supporting equipments for the disabled), i learnt from LHDN folks that ones need to registered as OKU with government (i. e. has a valid OKU name-tag and has the OKU record with government), then only can claim, otherwise no claim is allowed. Kindly advise if this is true because i have a valid wheelchair receipt but no entertained but LHDN. Obrigado. Comment by financetwitter on April 11, 2014 at 12:39 pm That8217s correct CH, you have to register with Welfare Dept to obtain an OKU certificate 8230 You should get an OKU card within 14-days 8230 There8217re other benefits for OKU besides tax exemptions 8230 Comment by Iamjacq on April 13, 2014 at 12:46 am Hi there. I have a doubt here. If let say I bought a house last yr 2013, do I still entitle to claim for the housing loan If yes. how much could I claim Can8217t really understand it8217s stated within 2009 -2010 Thanks Comment by shanice on April 13, 2014 at 10:04 pm hi, i have doubt about the tax exempt income (pension). my aunt was a government servant and retired on jan 13 at aged 57.i had make a call to lhdn and officer directed me to select assessment no 4, wife doesn8217t have 8220punca pendapatan8221 for ya 2014. However, i just remember she still have some small amount part time income. in this case can her husband still eligible for the relief of rm3000 Apparently e filing had been submitted. and im so worry for any penalty incurred future Comment by financetwitter on April 16, 2014 at 10:31 am The Sale and Purchase (S038P) Agreement 8220MUST8221 be executed between 10 March 2009 to 31 December 2010. Since you said you bought it last year (2013), I suppose you can8217t backdate your S038P agreement to between 2009-2010, can you So, you can8217t claim anything 8230 Comment by financetwitter on April 16, 2014 at 10:39 am Type of Assessment: Option 822048221 reads 8211 if the individual is married with a spouse who has no income no source of income or has income which is tax exempt. I suppose your aunt8217s part-time job doesn8217t produce hundreds of thousands of dollars in income 8230 I won8217t sweat a bit if I were you 8230 As I mentioned, it8217s a blind-spot, so ignore it as if it never happen, though IRD may scream till foam at mouth about what I suggest 8230 Bro, need some advice. Just say we create a company just to invest in share markets or equities, do we need to pay tax for whatever we earn Thanks. I have been asking around about this and getting many different answers. Thanks ya.. Comment by Lim on April 18, 2014 at 1:38 pm I have read that 8221 Premium on new annuity scheme or additional premium paid on existing annuity scheme commencing payment from 01012010 (amount exceeding RM1,000 can be claimed together with life insurance premium) deleted from year assessment 2012 until year assessment 20218243 And my question is, I have bought an additional new life premium insurance year 2013. And, including my K. w.s. p and life insurance, both are already total up to rm 6000. May I know for the new additional life insurance where I supposed to add in for the additional RM1,000 in the e-filing column Need to check if Mother funeral expensive can we put under parent medical claim Comment by kuri on April 22, 2014 at 4:24 pm Hello, I am a foreigner living in Malaysia and I8217m doing the e-filing for the first time. My husband is my dependant and he does not have any income for 2013. When I fill the form, on page 3 the row8221 Husband Wife Payment of alimony to former wife8221 is already filled in grey with 3,000. Is that correct I8217m still married so this is not alimony. Do I have to delete this I am filing the tax return as 8220diri sendiri pasangan tiada punca pendapatan8221. Thank you Comment by lucky cogito on April 22, 2014 at 9:16 pm if my wife is not living with me here in Malaysia, do I declare myself as single what about my son above 18 and going to university in Canada, can I get the 6000 relief Also in the e-filing all the blocks for reliefs cannot be filled they are all grey, and also the summary at the end of the filing shows all zeros. Comment by Unintended Lost One on April 23, 2014 at 12:57 am I8217m a legal tay payer. However, I never look as submitting forms is important every year because to what I understand, since my payslip had deducted the amount of tax to the govt. it should be fine. Like what is there to declare if I did not owe government anything So I was totally wrong about it and misunderstood. I even misunderstood the EPF and tax part. I do not want to put the blame to my HRAdmins though I8217ve asked some several people that they do have responsible to at least explain the importance of submitting tax forms every year when my salary had reach the certain tax amount. Now after I acknowledged the importance I am actually gathering all my EA forms and other documents to file to the tax. I had checked with Hasil and my Tax No. also existed, and just registered to e-filing. So my questions is that according to my pay I should have start submitting my tax forms since 2009 but I did not do that. If I plan to do it and submit it now, will I go to jail Please advice. Hi there, my employee delay my EA form, I keep requesting for it but I just got their promises. What should I doThanks. Comment by financetwitter on May 6, 2014 at 7:17 pm Hello Lim, Dixon, The list from IRD doesn8217t specifically mention 8220chiropractic8221, so should we conclude that we can8217t claim it at all It depends whether you want to go strictly by the rule of books 8230 Well, there8217re tons of serious illness out there not spelled out in IRD8217s list 8230 But that doesn8217t mean we can8217t include it as tax relief 8230 I always believe that as long as we8217re not making up story and it is indeed a serious illness, we should go ahead and claim it 8230 I believe medical cards do cover chiropractic 8230 And if they cover it, that is enough for me to justify the seriousness, and I8217ll go ahead to claim it 8230 But that8217s me 8230 One of the problems with Malaysians is they8217ve this critical illness 8211 8220Public Obedience8221 8230 They dare not claim something if it8217s not in the book 8230 But IRD doesn8217t specifically said you can8217t claim anything not in their list, did th ey Should we make a 8220U-Turn8221 if there8217s no sign board that says so Authorities may say you can8217t make a U-Turn since there8217s no signboard that allows it 8230 But we can always argue that since there8217s no sign-board that says U-Turn is 8220NOT8221 allowed, it also means U-Turn is allowed Hope you get the juice 8230 For me I8217ll claim first, and argue or negotiate later 8230 Not a big deal 8230 Comment by Gerald on May 9, 2014 at 6:58 pm Hi, I made a 300.00 monthly claim for non-taxable allowances and it appears in the EA form Category-G for 3600.00 thus not included in the taxable income column. Is this 8220illegal8221. What should I do about this Hello, i think that i saw you visited my weblog so i came to go back the want. I am trying to find issues to enhance my web siteI assume its ok to use a few of your ideas Comment by Arshad on June 11, 2014 at 11:27 am I would like to know if purchase electronic dictionary, can I claim it under book relief Comment by sandeep on March 20, 2015 at 3:19 pm Also. If I have moved from One job to another in the year 2014. Keeping in mind I am an expat and I was working for a company till june 2014 and moved over to another in July. Do i need to submit 2 EA forms My previous employer did not give me an EA form as I did not exit the country for Visa change. Do i need an EA form from both employers Comment by Gilbert on March 20, 2015 at 9:26 pm Hi Financetwitter, I am 55 years old. I8217m a normal worker that do odd jobs from house to house, example plumbing, without any employer. The income is roughly not more than rm1800 a month. How do I declare to the LHDN that I earn this less without any proof or Ea formWill the LHDN believe me Thank you. Comment by patrick on April 4, 2015 at 7:07 pm Dear Author of Financetwitter, I am expat working in KL. appreciate if you can advise for below F16 Life insurance and provident fund Can I claim life insurance premium paid for my dependent wife outside malaysia. F12 Interest on housing loan can I claim intrest paid on housing loan outside malaysia F7 Complete medical examination for self, spouse or child. Can I claim for medical examination if its already covered by my company medical insurance plan Comment by Stella on April 15, 2015 at 5:45 pm Hey there Thanks for your informative article. I have the same question as one of readers above: Under B2, you said that rental income is taxable but hard to detact. If I buy a property under Guaranteed Rental Returns for 6 years, will it be traceable I ask this because both the developer and I would have signed a lease agreement. The thing is, the rental income is not enough to cover the loan instalment so in effect there is negative income until and unless I paid the loan in full. Obrigado. Comment by Confusedlah on April 29, 2015 at 12:38 am Hi Financetwitter, firstly, good job on the article as well as taking time to reply to people. I have a question, I was employed until 2011 and paid my taxes until I resigned in 2012 to pursue my studies and was unemployed through 2012-2015. I didn8217t file during that time because I was under the impression that if we didnt get an EA form, we didn8217t have to file. However, just in case, I just filed for 2014 as 0. Do I need to go back and do the same for 2012, 2013 Hope you can advise. Thanks Comment by Ling on April 29, 2015 at 7:41 pm I8217m resident of Malaysia. however I was recruited as a freelance consultant with a Singapore-based company. I have no specification of workplace as i often travel around the SEA regions. There is no EA form issued by the Company as well since I8217m not engaged as full-time employee. The Company remitted my salary to my Malaysia bank account wherever there8217s a payment. Shall i declare the income that i made Also i have plans to buy a house amp Car in Malaysia. Is it mandated to declare the income that earned overseas thru my research, the info from KPMG website stated clearly that salary that earned from working abroad is not taxable. can you advise pls Salary earned from working abroad Is salary earned from working abroad taxed in Malaysia If so, how The salary earned from working abroad would not be taxable unless the income received is incidental to the Malaysian employment.45 Comment by Shannon on May 6, 2015 at 11:14 am Thank you so much on taking time to write about tax, and I8217ve learn a lot from your page I have accidentally hand in a wrong (didn8217t manage to run away from taxes i. e medical issues, laptop, books) can I resubmit the form Cause I realize I need to pay an additional of rm2k but I have all the receipts with me. Will the tax department come after me or check on me for resubmission Your advice is kindly appreciated. Thanks Hi, I8217m currently disabled and got the PWD card due to health problems so am working part time for oversea online recruitment company. Do I still need to fill in my income tax form if i earned 100 for 2014 If yes then what shall I state in the Jenis Penggajian column Comment by kidiaq on March 10, 2016 at 4:25 pm hi, i had a fixed transport allowance every months. Can i deduct it from my annual salary for my efiling
No comments:
Post a Comment