Tax exemption for private power generation companies except Coal power generation companies
Jan 2, 2020
SRO no.05/AIN/Income Tax/2020
Private Power Generation Companies incorporated from 01 January 2020 to 31 December 2022 can avail tax exemptions on the following items:
– Any income from the power generation business upto 31 December 2034
– Income of the foreigners who worked in the company for three subsequent years from the date of arrival
– Any interest payment against foreign loans by the company
– Any payment made as royalties, technical know-how fees and technical assistance fees
– Any capital gain for share transfer To avail of the exemptions, the company needs to file the income tax return under section 75 maintaining all relevant formalities.
