Income Tax Ordinance, 2001

CHAPTER-II

CHARGE OF TAX

Income Tax Ordinance, 2001 CHAPTER-II CHARGE OF TAX From: 2024-12-29 - To: 0000-00-00 (1) In the case of any resident person engaged in the business of shipping, a presumptive income tax shall be charged in the following manner, namely:- (a) ships and all floating crafts including tugs, dredgers, survey vessels and other specialized craft purchased or bare-boat chartered and flying Pakistan flag shall pay tonnage tax of an amount equivalent to one US$ per gross registered tonnage per annum; 2[ ] (b) ships, vessels and all floating crafts including tugs, dredgers, survey vessels and other specialized craft not registered in Pakistan and hired under any charter other than bare-boat charter shall pay tonnage tax of an amount equivalent to fifteen US cents per ton of gross registered tonnage per chartered voyage provided that such tax shall not…