GOVERNMENT OF PAKISTAN

REVENUE DIVISION

CENTRAL BOARD OF REVENUE

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                                                                                                                   Islamabad, the July 16, 2005

NOTIFICATION

(Income Tax)

            S.R.O.718(I)/2005.- In exercise of the powers conferred by sub-section (2) of section 53 of the Income Tax Ordinance, 2001 (XLIX of 2001), the Federal Government is pleased to direct that the following further amendment shall be made in the Second Schedule to the said Ordinance, namely:-

            In the aforesaid schedule, in Part II, after clause (13F), the following new clause shall be added, namely:

            “(13G)         In respect of re-meltable and re-rollable scrap, the tax under section 148 shall be collected at the rate of one per cent of the value of such goods as increased by customs-duty and sales tax, if any, levied thereon.”.

[C.No. 4(19)TP-I/91-III]

( Salman Nabi )

Additional Secretary/Member (Direct Taxes)