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ORDINANCE NO. IX OF 2015

FINANCE (AMENDMENT) ORDINANCE, 2015

An Ordinance further to amend certain fiscal laws

[Gazette of Pakistan, Extraordinary, Part-I, 2nd May, 2015]

No. F. 2(1)/2015-Pub., dated 30.4.2015.–The following Ordinance promulgated by the President is hereby published for general information:–

WHEREAS it is expedient further to amend certain fiscal laws for the purposes hereinafter appearing;

AND WHEREAS the Senate and the National Assembly are not in session and the President is satisfied that circumstances exist which render it necessary to take immediate action;

Now THEREFORE, in exercise of the powers conferred by clause (1) of Article 89 of the Constitution of the Islamic Republic of Pakistan, the President is pleased to make and promulgate the following Ordinance:–

1.     Short title and commencement.–(1) This Ordinance may be called the Finance (Amendment) Ordinance, 2015.

(2)  It shall come into force at once.

2.     Amendment of Customs Act, 1969 (IV of 1969).–In the Customs Act, 1969 (IV of 1969), the following amendments shall be made, namely:–

(1)      in Section 19,–

(a)      in sub-section (1), after the word “Government”, the commas and words “, pursuant to the approval of the Economic Coordination Committee of Cabinet, whenever circumstances exist to take immediate action for the purposes of national security, natural disaster, national food security in emergency situations, protection of national economic interests in situations arising out of abnormal fluctuation in international commodity prices, removal of anomalies in duties, development of backward areas and implementation of bilateral and multilateral agreements” shall be inserted; and

(b)      after sub-section (3), the following new sub-Sections shall be added, namely:–

“(4)     The Federal Government shall place before the National Assembly all notifications issued under this section in a financial year.

(5)      Any notification issued under sub-section (1) shall, if not earlier rescinded, stand rescinded on the expiry of the financial year in which it was issued.”; and

(2)      Section 20 shall be omitted.

3.     Amendment of Sales Tax Act, 1990.–In the Sales Tax Act, 1990, the following amendments shall be made, namely:–

(1)      in Section 3, in sub-section (2), for clause (b), the following shall be substituted, namely:–

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