Income Tax Ordinance, 2001

CHAPTER-II

CHARGE OF TAX

From: 2023-07-01 - 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 exceed one US$ per ton…