Exemptions other than Covered in Respective Chapters Chapter- 20
(a) be resident company; and
(b) belong to a wholly-owned group of resident companies.
Provided that:
(i) the transferee resident company shall own or acquire at least 75% of the share capital of the
transferor company or the business in Pakistan of the transferor company;
(ii) the amalgamated company is a company incorporated in Pakistan;
(iii) the assets of the amalgamating company or companies immediately before the amalgamation
become the assets of the amalgamated company by virtue of the amalgamation, otherwise
than by purchase of such assets by the amalgamated company or as a result of distribution of
such assets to the amalgamated company after the winding up of the amalgamating company
or companies;
(iv) the liabilities of the amalgamating company or companies immediately before the
amalgamation become the liabilities of the amalgamated company by virtue of the
amalgamation; and
(v) the scheme of amalgamation is sanctioned by the State Bank of Pakistan, any court or
authority as may be required under the law.- Exemption to Dawat-ul-Hidiya [U/C 63]
- Omitted by Finance Act, 2020.
- Profit of clean Development Mechanism Projects [U/C 65]
Any income derived by a project, approved by Designated National Authority (DNA), from the transfer
or sale of Clean Development Mechanism Credits i.e. Certified Emission Reductions, verified
Emission Reductions.- Tax on electricity for exporters-cum-manufacturers [U/C 66]
The provisions of section 235, shall not be applicable to the exporters-cum manufacturers of —(a) carpets;
(b) leather and articles thereof including artificial leather footwear;(c) surgical goods;
(d) sports goods; and(e) textile and articles thereof.- International Finance Corporation [U/C 67]
The provisions of sections 150, 151, 152, 153 and 233 shall not apply in respect of payments made
to the International Finance Corporation established under the International Finance Corporation Act,
1956.- Any stock exchange of Pakistan [U/C 67A]
The provisions of section 100B and Eighth Schedule shall not apply to transactions carried on upto
30th day of June, 2015, on any Stock Exchange of Pakistan, by International Finance Corporation
established under the International Finance Corporation Act, 1956.- Pakistan Domestic Sukuk Co. Ltd. [U/C 68]
The provisions of sections 151, 153 and 155 shall not apply in respect of payments made to the
Pakistan Domestic Sukuk Company Ltd.- Asian Development Bank [U/C 69]
The provisions of sections 150, 151, 152, 153 and 233 shall not apply in respect of payments made
to the Asian Development Bank established under the Asian Development Bank Ordinance, 1971.- Contractors of power projects [U/C 70]