Income Tax Ordinance, 2001

CHAPTER-III

TAX ON TAXABLE INCOME PART VII EXEMPTIONS AND TAX CONCESSIONS

From: 2023-07-01 - To: 0000-00-00 46. Profit on debt.- Any profit received by a non-resident person on a security issued by a resident person shall be exempt from tax under this Ordinance where- (a) the persons are not associates; (b) the security was widely issued by the resident person outside Pakistan for the purposes of raising a loan outside Pakistan for use in a business carried on by the person in Pakistan; (c) the profit was paid outside Pakistan; and (d) the security is approved by the 1[Board] for the purposes of this section. _________________________________________________________________________________________________ 1-The words “Central Board of Revenue” substituted vide the Finance Act, 2007 (IV of 2007 assented on 30th June, 2007) From: 2007-07-01 - To: 2023-06-30 46. Profit on debt.- Any profit received by a non-resident person on a security issued by a resident person shall be exempt from tax under this Ordinance where- (a) the persons are not associates; (b) the security was widely issued by the resident person outside Pakistan for the purposes of raising a loan outside Pakistan for use in a business…