Income Tax Ordinance, 2001

CHAPTER-VII

INTERNATIONAL PART III TAXATION OF NON-RESIDENTS

Income Tax Ordinance, 2001 CHAPTER-VII INTERNATIONAL PART III TAXATION OF NON-RESIDENTS From: 2024-12-29 - To: 0000-00-00 (b) the balance outstanding at that time on any debt obligation owed by the foreign-controlled resident company to a person other than the foreign controller or an associate of the foreign controller where that person has a balance outstanding of a similar amount on a debt obligation owed by the person to the foreign controller or a non-resident associate of the foreign controller; and “foreign equity” in relation to a foreign-controlled resident company and for a tax year, means the sum of the following amounts, namely:- (a) The paid-up value of all shares in the company owned by the foreign controller or a non-resident associate of the foreign controller at the beginning of the tax year; (b) so much of the amount standing to the credit of the share premium account of the company at the beginning of the tax year as the foreign controller or a non-resident associate would be entitled to if the company were wound up…