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ORDINANCE NO. X OF 2015

INCOME TAX (AMENDMENT) ORDINANCE, 2015

An Ordinance further to amend the Income Tax 
Ordinance, 2001

[Gazette of Pakistan, Extraordinary, 11th July, 2015]

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

WHEREAS it is expedient further to amend the Income Tax Ordinance, 2001 (XLIX of 2001), for the purpose 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 Income Tax (Amendment) Ordinance, 2015.

(2)  It shall come into force at once.

2.     Amendment of First Schedule, Ordinance XLIX of 2001.–In the Income Tax Ordinance, 2001 (XLIX of 2001), in the First Schedule, in Part IV, in Division-XXI, for the full stop at the end a colon shall be substituted and thereafter the following proviso shall be added, namely:–

“Provided that the rate specified in this Division shall be 0.3 per cent for the period commencing from the 11th day of July, 2015 and ending on the 30th day of September, 2015 (both days inclusive) or till the date as the Federal Government may, by notification in the official Gazette on recommendation of the Economic Coordination Committee of the Cabinet, extend.”.