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Income Tax Ordinance, 2001
CHAPTER-XII TRANSITIONAL ADVANCE TAX PROVISIONS
From: 2023-07-01 - To: 0000-00-00 1[236Y. Advance tax on persons remitting amounts abroad through credit or debit or prepaid cards.- (1) Every banking company shall collect advance tax, at the time of transfer of any sum remitted outside Pakistan, on behalf of any person who has completed a credit card or debit card or prepaid card transaction with a person outside Pakistan at the rate specified in Division XXVII of Part IV of the First Schedule. (2) The advance tax collected under this section shall be adjustable. ___________________________________________________________________ 1-Section “236Y” inserted substituted by Finance Act, 2022, dated 29-06-2022. Earlier omitted by Finance Act, 2021, dated 30-06-2021. Earlier this section was inserted, vide Finance Act, 2018. Before omission read as: 1[236Y. Advance tax on persons remitting amounts abroad through credit or debit or prepaid cards.- (1) Every banking company shall collect advance tax, at the time of transfer of any sum remitted outside Pakistan, on behalf of any person who has completed a credit card transaction, a debit card transaction, or a prepaid card transaction with a person outside Pakistan at the rate specified in Division XXVII of Part IV of the First Schedule. (2) The advance tax collected under this section shall be adjustable.] From: 2022-07-01 - To: 2023-06-30 1[236Y. Advance tax on persons remitting amounts abroad through credit or debit or prepaid cards.- (1) Every banking company shall collect advance tax, at the time of transfer of any sum remitted outside Pakistan, on behalf of any person who has completed a credit card or debit card or prepaid card transaction with a person outside Pakistan at the rate specified in Division XXVII of Part IV of the First Schedule. (2) The advance tax collected under this section shall be adjustable. ___________________________________________________________________ 1-Section “236Y” inserted substituted by Finance Act, 2022, dated 29-06-2022. Earlier omitted by Finance Act, 2021, dated 30-06-2021. Earlier this section was inserted, vide Finance Act, 2018. Before omission read as: 1[236Y. Advance tax on persons remitting amounts abroad through credit…
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