Income From Business Chapter- 09
Explanation.— For the purpose of this clause, Special Purpose Vehicle shall have the same meaning
as defined under the Real Estate Investment Trust Regulations, 2015.16.6 Profits of a Joint Venture Capital co. [U/C 101]
This clause has been omitted by Finance Act, 2021.16.7 Income of Subsidiary of Islamic Development Bank [U/C 107]
Any income derived by any subsidiary of the Islamic Development Bank wholly owned by it and set up
in Pakistan and engaged in owning and leasing of tankers.16.8 Income by the Islamic development bank [U/C 107A]
Any income derived by the Islamic Development Bank from its operations in Pakistan in connection with
its social and economic development activities.16.9 INCOME FROM TRANSPORT BUSINESS IN AZAD KASHMIR [U/C 117]
This clause has been omitted by Finance Act, 2021.16.10 INCOME OF PUBLIC SECTOR UNIVERSITY [U/C 126]
Any income of a public sector university established sololy for educational purposes and not for the
purposes of profit, with effect from the 1st day of July, 2013.16.11 INCOME OF GAWADAR SERVICES ETC. [U/C 126A]
Income derived by China Overseas Ports Holding Company Limited, China Overseas Ports Holding
Company Pakistan (Private) Limited, Gwadar International Terminal Limited, Gwadar Marine Services
Limited and Gwadar Free Zone Company Limited from Gwadar Port operations for a period of twenty-
three years, with effect from the sixth day of February, 2007.16.12 PROFIT AND GAINS DERIVED BY GAWADER FREE ZONE [U/C 126AA]
Profit and gains derived by a taxpayer from businesses set up in the Gwadar Free Zone Area for a
period of twenty three years with effect from the first day of July, 201616.13 PROFIT ON DEBT TO LENDERS OF CHINA OVERSEAS PORTS HOLDING COMPANY
LIMITED [U/C 126AB]
Profit on debt derived by-
(a) any foreign lender; or
(b) any local bank having more than 75 per cent shareholding of the Government or the State Bank
of Pakistan, under a Financing Agreement with the China Overseas Ports Holding Company
Limited, for a period of twenty three years with effect from the first day of July, 201616.14 INCOME OF CERTAIN CONTRACTORS AND SUB CONTRACTORS [U/C 126AC]
Income derived by contractors and sub-contractors of China Overseas Ports Holding Company Limited,
China Overseas Ports Holding Company Pakistan (Private) Limited, Gwadar International Terminal
Limited, Gwadar Marine Services Limited and Gwadar Free Zone Company Limited from Gwadar Port
and Gwadar Free Zone operations for a period of twenty years, with effect from the first day of July,
201616.15 DIVIDEND INCOME OF CERTAIN PERSONS [U/C 126AD]
(1) Any income derived by China Overseas Ports Holding Company Limited being dividend received
from China Overseas Ports Holding Company Pakistan (Private) Limited , Gwadar International
Terminal Limited Gwadar Marine Services Limited and Gwadar Free Zone Company Limited for a
period of twenty three years with effect from the first day of July, 2016.
(2) Any income derived by China Overseas Ports Holding Company Pakistan (Private) Limited being
dividend received from, Gwadar International Terminal Limited Gwadar Marine Services Limited and