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INCOME TAX (AMENDMENT) ACT, 2016

An Act further to amend the Income Tax Ordinance, 2001

[Gazette of Pakistan, Extraordinary, Part-I, 30th January, 2016]

ACT NO. I OF 2016

No. F. 22(30)/2015-Legis., dated 29.1.2016–The following Act of Majlis-e-Shoora (Parliament) received the assent of the President on the 29th January, 2016 and 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;

It is enacted as follows:–

1.  Short title and commencement.–(1) This Act may be called the Income Tax (Amendment) Act, 2016.

(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 Federal Government may, by notification in the official Gazette and on recommendation of the Economic Coordination Committee of the Cabinet, amend the rate specified in this Division.”

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