ISLAMABAD: The Federal Board of Revenue (FBR) has abolished withholding tax on the import of drones donated by the Ministry of Agriculture and Rural Affairs (MARA), China to Pakistan.
According to a notification issued by the FBR here on Monday, in exercise of the powers conferred by sub-section (2) of section 53 of the Income Tax Ordinance, 2001, in pursuance to the decision of the cabinet in case no 794/28/2021 dated 31 August 2021, the federal government has directed that the following further amendment shall be made in the Second Schedule to the said Ordinance.
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In the aforesaid Schedule, in Part IV, after Clause (12N), the following new Clause shall be added, namely:- "(120) The provisions of section 148 shall not apply on import of drones donated by MARA, Government of China to Pakistan through Sea Route".
Copyright Business Recorder, 2021
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