Amendment of SRO regarding tax rate on Income from Export

SRO no. 170/AIN/Income Tax/2023
Provided certain conditions are met, income tax on export revenue will be exempted; or in certain cases reduced, under section 44(4) clause (b) as stated below:
– 50% of income will be tax free for individuals, firm and Hindu joint families; and the tax rate will be 12% for others; and
– The tax rate will be 10% for Leadership in Energy and Environmental Design (LEED) certified factories owned by others except individuals, firm and Hindu joint families.

This SRO is not applicable for Transportation Service, Mobile Telecommunication Service, Internet and Internet Related Service.

Tax payers already enjoying reduced rate under any other section as per the Ordinance will not be applicable under the provisions of this SRO.

SRO no. 158/AIN/Income Tax/2022 is repealed.

This SRO is effective from 01 July 2023 to 30 June 2028