Income Tax Ordinance, 2001

CHAPTER-VI

SPECIAL INDUSTRIES PART I INSURANCE BUSINESS

Income Tax Ordinance, 2001 CHAPTER-VI SPECIAL INDUSTRIES PART I INSURANCE BUSINESS From: 2024-12-29 - To: 0000-00-00 1[99D. Additional tax on certain income, profits and gains.- (1) Notwithstanding anything contained in this Ordinance or any other law for the time being in force, for any of the last three tax years preceding the tax year 2023 and onwards, in addition to any tax charged or chargeable, paid or payable under any of the provisions of this Ordinance, an additional tax shall be imposed on every person being a company who has any income, profit or gains that have arisen due to any economic factor or factors that resulted in windfall income, profits or gains. (2) The Federal Government may, by notification in the official Gazette, (a) specify sector or sectors, for which this section applies; (b) determine windfall income, profits or gains and economic factor or factors including but not limited to international price fluctuation having bearing on any commodity price in Pakistan or any sector of the economy or difference in…