S.R.O. 1099(I)/2008, Islamabad, the 16th October, 2008

SROS: S.R.O. 1099(I)/2008, Islamabad, the 16th October, 2008 DRAFT- APPLICATION FOR CERTIFICATE OF EXEMPTION UNDER SECTION 159 OF THE INCOME TAX ORDINANCE, 2001 S. R. O. 1099(I)/2008, Islamabad, the 16th October, 2008:- The following draft of certain further amendments in the Income Tax Rules, 2002, which the Federal Board of Revenue proposes to make in exercise of the powers conferred by section 237 of the Income Tax Ordinance, 2001(XLIX of 2001), is hereby published for the information of all persons likely to be affected thereby, as required by sub-section(3) of the said section, and notice is hereby given that the draft will be taken into consideration after seven days of its publication in the official Gazette. Any objection or suggestion which may be received from any person, in respect of the said draft before the expiry of the aforesaid period, shall be considered by the Federal Board of Revenue. DRAFT AMENDMENTS In the aforesaid Rules,- (a) in rule 40, after sub-rule(2), the following new sub-rules shall be added, namely:- (3) An application for a certificate under sub-section(1) of section 159 read with clause(v) of paragraph 1 of Notification No. S.R.O. 947 (1)/2008, dated the 5th September, 2008, shall be in the form specified in Part VII(a) of the First Schedule to these rules. (4) A system based exemption certificate issued by the Commissioner for goods specified under clause(v) of paragraph 1 of Notification No. S.R.O. 947(1)/2008, dated the 5th September, 2008 shall be in the form specified in Part-VIII(a) of the First Schedule to these rules. ; and (b) in the First Schedule,- (i) after Part VII, the following shall be inserted, namely:- PART VII(a) OF THE FIRST SCHEDULE Application for Certificate of Exemption under section 159 of the Income Tax Ordinance, 2001 [See Rule 40(3)] To, The Commissioner of Income Tax__________________ I Principal Officer/Member of AOP/Individual Proprietor of M/s ____ ______________________ hereby declare that I am entitled to import goods without collection of tax at source on the following basis, in accordance with the provisions of clause(v) of paragraph 1 of Notification No. S.R.O. 947(1)/2008, dated 05-09-2008…