Income Tax Ordinance, 2001

CHAPTER-II

CHARGE OF TAX

From: 2023-07-01 - To: 0000-00-00 1[5AA. Tax on return on investments in sukuks.- (1) Subject to this Ordinance, a tax shall be imposed, at the rate specified in Division IIIB of Part I of the First Schedule, on every person who receives a return on investment in sukuks from a special purpose vehicle 2[or a company]. (2) The tax imposed under sub-section (1) on a person who receives a return on investment in sukuks shall be computed by applying the relevant rate of tax to the gross amount of the return on investment in sukuks. (3) This section shall not apply to a return on investment in sukuks that is exempt from tax under this Ordinance.] ___________________________________________________________ 1-Added by the Presidential Order No.F.2(1)/2016-Pub dated 31.08.2016. 2-Words substituted by the Finance Act, 2017, dated 20-06-2017 From: 2017-07-01 - To: 2023-06-30 1[5AA. Tax on return on investments in sukuks.- (1) Subject to this Ordinance, a tax shall be imposed, at the rate specified in Division IIIB of Part I of the First Schedule, on every person who receives a return on investment in sukuks from a special purpose vehicle 2[or a company]. (2) The tax imposed under sub-section (1) on a person who receives a return on investment in sukuks shall be computed by applying the relevant rate of tax to the gross amount of the…