Professional Documents
Culture Documents
GOVERNMENT OF PAKISTAN
FEDERAL OARD OF REVENUE !REVENUE DIVISION"
.
Pu$%&'he( $)*
%.
). +. ,. 0. 2.
Tax on taxa*le inco e Tax on di&idend$ Tax on certain -a. ent$ to non/re$ident$ Tax on $hi--in1 and air tran$-ort inco e o# a non/ re$ident -er$on 3eneral -ro&i$ion$ relatin1 to taxe$ i -o$ed 4nder $ection$ +, , and 0
!% !) !) !+ !+
C#APTER III(
TAX ON TAXA LE INCOME PART I COMPUTATION OF TAXA LE INCOME 5. 16. 11. Taxa*le inco e Total inco e 7ead$ o# inco e PART II #EAD OF INCOME SALAR+ 1!. 1%. 1). Salar. 8al4e o# -er94i$ite$ E -lo.ee $hare $che e$ !5 %1 %+ !0 !0 !0
PART III #EAD OF INCOME INCOME FROM PROPERT+ 1+. 1+A. 1,. 17. Inco e #ro -ro-ert. "ed4ction$ in co -4tin1 inco e char1ea*le 4nder the head :Inco e #ro Pro-ert. Non/ad;4$ta*le a o4nt$ recei&ed in relation to *4ildin1$ Omitted by the Finance Act, 2006. PART IV #EAD OF INCOME INCOME FROM USINESS %0 %0 )6
15.
)! )%
!6. !1.
"ed4ction$ in co -4tin1 inco e char1ea*le 4nder the head =Inco e #ro <4$ine$$= "ed4ction$ not allo'ed
)) )+
<ad de*t$ Pro&i$ion re1ardin1 con$4 er loan$ Pro#it on non/-er#or in1 de*t$ o# a *an@in1 co -an. or de&elo- ent #inance in$tit4tion Tran$#er to -artici-ator. re$er&e
+2 +5 ,6 ,6
a4thorit. inco e >orei1n/$o4rce inco e o# $hort/ter re$ident indi&id4al$ >orei1n/$o4rce inco e o# ret4rnin1 ex-atriate$ Omitted by Finance Ordinance, 2002 Exe -tion$ and tax conce$$ion$ in the Second Sched4le Exe -tion$ and tax -ro&i$ion$ in other la'$ Li itation o# exe -tion PART VIII LOSSES
02 02 05 05 26
Set o## o# lo$$e$ Set o## o# lo$$e$ o# co -anie$ o-eratin1 hotel$. Carr. #or'ard o# *4$ine$$ lo$$e$ Set o## o# lo$$e$ con$e94ent to a al1a ation Carr. #or'ard o# $-ec4lation *4$ine$$ lo$$e$ Carr. #or'ard o# ca-ital lo$$e$ Li itation$ on $et o## and carr. #or'ard o# lo$$e$ 3ro4- Taxation. 3ro4- relie# PART IX DEDUCTI LE ALLO,ANCES
21 21 21 2! 2% 2) 2) 2+ 2,
Ca@at Dor@er$B Del#are >4nd Dor@er$B Partici-ation >4nd PART X TAX CREDITS
25 25 25
,1. ,!. ,%. ,). ,+. ,+A. ,+<. ,+C. ,+". ,+E.
Charita*le donation$ Tax credit #or in&e$t ent in $hare$ and in$4rance Contri*4tion to an A--ro&ed Pen$ion >4nd. Pro#it on de*t Mi$cellaneo4$ -ro&i$ion$ relatin1 to tax credit$ Tax credit to a -er$on re1i$tered 4nder the Sale$ Tax Act, 1556 Tax credit #or in&e$t ent Tax credit #or enli$t ent Tax credit #or ne'l. e$ta*li$hed 4nderta@in1$ Tax credit #or ind4$trial 4nderta@in1$ e$ta*li$hed *e#ore the #ir$t da. o# E4l., !611
56 51 5% 5) 5+ 5, 5, 52 52 166
C7APTER/I8
COMMON RULES PART I GENERAL ,,. ,0. ,2. ,5. 06. 01. 0!. 0%. Inco e o# ;oint o'ner$ A--ortion ent o# ded4ction$ >air ar@et &al4e Recei-t o# inco e Reco4-ed ex-endit4re C4rrenc. con&er$ion Ce$$ation o# $o4rce o# inco e R4le$ to -re&ent do4*le deri&ation and do4*le ded4ction$ PART II TAX +EAR 0). Tax .ear PART III ASSETS 0+. 0,. 00. 02. 05. "i$-o$al and ac94i$ition o# a$$et$ Co$t Con$ideration recei&ed Non/ar F$ len1th tran$action$ Non/reco1nition r4le$ 160 160 165 116 116 16+ 16! 16! 16! 16% 16% 16% 16% 16)
C#APTER V(
PROVISIONS GOVERNING PERSONS PART I CENTRAL CONCEPTS D&2&'&1n I Pe0'1n' 26. Per$on 11!
"i&i$ion II
Re'&(ent /n( N1n30e'&(ent Pe0'1n' 21. 2!. 2%. 2). Re$ident and non/re$ident -er$on$ Re$ident indi&id4al Re$ident co -an. Re$ident a$$ociation o# -er$on$ 11% 11) 11) 11)
"i&i$ion III
A''1.&/te' 2+. A$$ociate$ PART II INDIVIDUALS 11+
"i&i$ion II
P012&'&1n' Re%/t&n4 t1 A2e0/4&n4 22. 22A. 25. An indi&id4al a$ a e *er o# an a$$ociation o# -er$on$ Share -ro#it$ o# co -an. to *e added to taxa*le inco e A4thor$ 112 112 115
"i&i$ion III
In.15e S-%&tt&n4 56. 51. Tran$#er$ o# a$$et$ Inco e o# a inor child PART III ASSOCIATIONS OF PERSONS 5!. 93. Princi-le$ o# taxation o# a$$ociation$ o# -er$on$ Omitted by the Finance Act, 2007. PART IV 1!1 115 1!6
COMPANIES 5). 5+. 5,. 50. 50A. Princi-le$ o# taxation o# co -anie$ "i$-o$al o# *4$ine$$ *. indi&id4al to 'holl./o'ned co -an. "i$-o$al o# *4$ine$$ *. a$$ociation o# -er$on$ to 'holl./o'ned co -an. "i$-o$al o# a$$et *et'een 'holl./o'ned co -anie$ "i$-o$al o# a$$et 4nder $che e o# arran1e ent and recon$tr4ction. 1!! 1!! 1!) 1!+ 1!0
PART V COMMON PROVISIONS APPLICA LE TO ASSOCIATIONS OF PERSONS AND COMPANIES 52. Chan1e in control o# an entit. PART VA TAX LIA ILIT+ IN CERTAIN CASES 52A. 52<. 52C. Chan1e in the con$tit4tion o# an a$$ociation o# -er$on$ "i$contin4ance o# *4$ine$$ or di$$ol4tion o# an a$$ociation o# -er$on$ S4cce$$ion to *4$ine$$, other'i$e on death 1%6 1%6 1%6 1!5
C7APTER/8I
SPECIAL INDUSTRIES PART I INSURANCE USINESS 55. S-ecial -ro&i$ion$ relatin1 to in$4rance *4$ine$$ PART II OIL, NATURAL GAS AND OT#ER MINERAL DEPOSITS 166. 166A. 166<. S-ecial -ro&i$ion$ relatin1 to the -rod4ction o# oil and nat4ral 1a$, and ex-loration and extraction o# other ineral de-o$it$ S-ecial -ro&i$ion$ relatin1 to *an@in1 *4$ine$$. S-ecial -ro&i$ion relatin1 to ca-ital 1ain tax. 1%% 1%% 1%% 1%!
C#APTER VII(
INTERNATIONAL PART I GEOGRAP#ICAL SOURCE OF INCOME 161. 3eo1ra-hical $o4rce o# inco e PART II TAXATION OF FOREIGN3SOURCE INCOME OF RESIDENTS 16!. 16%. 16). >orei1n $o4rce $alar. o# re$ident indi&id4al$ >orei1n tax credit >orei1n lo$$e$ 1%5 1%5 1)6 1%+
PART III TAXATION OF NON3RESIDENTS 16+. 16,. Taxation o# a -er anent e$ta*li$h ent in Pa@i$tan o# a non/re$ident -er$on Thin ca-italiGation PART IV AGREEMENTS FOR T#E AVOIDANCE OF DOU LE TAXATION AND PREVENTION OF FISCAL EVASION 160. A1ree ent$ #or the a&oidance o# do4*le taxation and -re&ention o# #i$cal e&a$ion 1)+ 1)1 1)!
C#APTER VIII(
ANTI3AVOIDANCE 162. 165. 116. 111. 11!. Tran$action$ *et'een a$$ociate$ Re/characteriGation o# inco e and ded4ction$ Salar. -aid *. -ri&ate co -anie$ Unex-lained inco e or a$$et$ Lia*ilit. in re$-ect o# certain $ec4rit. tran$action$ 1), 1), 1), 1), 1)2
C#APTER IX(
MINIMUM TAX
11%.
11%A. 11%<.
Mini 4 tax on the inco e o# certain -er$on$. Mini 4 tax on *4ilder$ Mini 4 tax on land de&elo-er$
C#APTER X PROCEDURE PART I RETURNS 11). 11+. 11,. 110. 112. 115. Ret4rn o# inco e Per$on$ not re94ired to #4rni$h a ret4rn o# inco e Dealth $tate ent Notice o# di$contin4ed *4$ine$$ Method o# #4rni$hin1 ret4rn$ and other doc4 ent$ Exten$ion o# ti e #or #4rni$hin1 ret4rn$ and other doc4 ent$ PART II ASSESSMENTS 1!6. 1!6A. 1!1. 1!!. 1!!A. 1!!<. 1!!C. 1!%. 1!). 1!)A. 1!+. 1!,. A$$e$$ ent$ Omitted by Finance Act, 2005 <e$t ;4d1 ent a$$e$$ ent A end ent o# a$$e$$ ent$ Re&i$ion *. the Co i$$ioner Re&i$ion *. the Re1ional Co i$$ioner Pro&i$ional a$$e$$ ent Pro&i$ional a$$e$$ ent in certain ca$e$ A$$e$$ ent 1i&in1 e##ect to an order Po'er$ o# tax a4thoritie$ to odi#. order$, etc. A$$e$$ ent in relation to di$-4ted -ro-ert. E&idence o# a$$e$$ ent PART III APPEALS 1!0. A--eal to the Co i$$ioner HA--eal$I 105 1,0 1,2 106 10% 10) 10) 10+ 10+ 100 100 100 1+) 1+5 1,1 1,% 1,% 1,+
1!2. 1!5. 1%6. 1%1. 1%!. 1%%. 134. 1%)A. 135. 1%,.
Proced4re in a--eal "eci$ion in a--eal A--oint ent o# the A--ellate Tri*4nal A--eal to the A--ellate Tri*4nal "i$-o$al o# a--eal$ *. the A--ellate Tri*4nal Re#erence to 7i1h Co4rt Omitted by Finance Act, 2005 Alternati&e "i$-4te Re$ol4tion Omitted by the Finance Ordinance, 2002 <4rden o# -roo# PART IV COLLECTION AND RECOVER+ OF TAX
1%0. 1%2. 1%2A. 1%2<. 1%5. 1)6. 1)1. 1)!. 1)%. 1)). 1)+. 1),. 1),A. 1),<.
"4e date #or -a. ent o# tax Reco&er. o# tax o4t o# -ro-ert. and thro41h arre$t o# tax-a.er Reco&er. o# tax *. "i$trict O##icer HRe&en4eI E$tate in *an@r4-tc. Collection o# tax in the ca$e o# -ri&ate co -anie$ and a$$ociation$ o# -er$on$ Reco&er. o# tax #ro -er$on$ holdin1 one. on *ehal# o# a tax-a.er Li94idator$ Reco&er. o# tax d4e *. non/re$ident e *er o# an a$$ociation o# -er$on$ Non/re$ident $hi- o'ner or charterer Non/re$ident aircra#t o'ner or charterer A$$e$$ ent o# -er$on$ a*o4t to lea&e Pa@i$tan Reco&er. o# tax #ro -er$on$ a$$e$$ed in AGad Ea 4 and Ja$h ir Initiation, &alidit., etc., o# reco&er. -roceedin1$. Tax arrear$ $ettle ent incenti&e$ $che e PART V ADVANCE TAX AND DEDUCTION OF TAX AT SOURCE
15+ 15, 150 150 150 152 !66 !61 !61 !6! !6% !6% !6) !6)
"i&i$ion I
A(2/n.e T/6 P/&( $) the T/6-/)e0 1)0. Ad&ance tax -aid *. the tax-a.er !6,
"i&i$ion II
"i&i$ion III
De(u.t&1n 17 T/6 /t S1u0.e 1)5. 1+6. 1+1. 1+!. 1+%. 1+%A. 1+). 1++. 1+,. 1+,A. 1+,<. 157. 1+2. Salar. "i&idend$ Pro#it on de*t Pa. ent$ to non/re$ident$ Pa. ent$ #or 1ood$, $er&ice$ and contract$ Omitted by Finance Act, 2005 Ex-ort$ Inco e #ro -ro-ert. PriGe$ and 'innin1$ Petrole4 -rod4ct$ Dithdra'al o# *alance 4nder -en$ion #4nd Omitted by the Finance Ordinance, 2002 Ti e o# ded4ction o# tax !1+ !1+ !1+ !10 !!6 !!+ !!, !!2 !!2 !!2 !!5
"i&i$ion I8 3eneral Pro&i$ion$ Relatin1 to the Ad&ance Pa. ent o# Tax or the "ed4ction o# Tax at So4rce
1+5. 1,6. 1,1. 1,!. 1,%. 1,). 1,+. 1,+A. 1,,. 1,0. 1,2. 1,5. Exe -tion or lo'er rate certi#icate Pa. ent o# tax collected or ded4cted >ail4re to -a. tax collected or ded4cted Reco&er. o# tax #ro the -er$on #ro 'ho tax 'a$ not collected or ded4cted Reco&er. o# a o4nt$ -a.a*le 4nder thi$ "i&i$ion Certi#icate o# collection or ded4ction o# tax State ent$ >4rni$hin1 o# in#or ation *. *an@$ Priorit. o# tax collected or ded4cted Inde nit. Credit #or tax collected or ded4cted Tax collected or ded4cted a$ a #inal tax !%6 !%1 !%1 !%! !%% !%% !%% !%, !%0 !%0 !%0 !%5
PART VI REFUNDS 106. 101. Re#4nd$ Additional -a. ent #or dela.ed re#4nd$ PART VII REPRESENTATIVES 10!. 10%. Re-re$entati&e$ Lia*ilit. and o*li1ation$ o# re-re$entati&e$ !)+ !)0 !)! !)%
PART VIII RECORDS, INFORMATION COLLECTION AND AUDIT 10). 10+. 10,. 100. 102. 105. 126. Record$ Po'er to enter and $earch -re i$e$ Notice to o*tain in#or ation or e&idence A4dit A$$i$tance to Co i$$ioner Acco4nt$, doc4 ent$, record$ and co -4ter/$tored in#or ation not in Urd4 or En1li$h lan14a1e Po'er to collect in#or ation re1ardin1 exe -t inco e PART IX NATIONAL TAX NUM ER CERTIFICATE 121. 121A. 121<. 121C. Tax-a.erB$ Re1i$tration Acti&e tax-a.er$B li$t Tax-a.er card "i$-la.in1 o# National Tax N4 *er PART X PENALT+ 12!. 12%. 12). 12+. 12,. 120. 122. O##ence$ and -enaltie$ Exe -tion #ro -enalt. and de#a4lt $4rchar1e Omitted by the Finance Act, 2010. Omitted by the Finance Act, 2010. Omitted by the Finance Act, 2010. Omitted by the Finance Act, 2010. Omitted by the Finance Act, 2010. !+, !,1 !++ !++ !++ !++ !)2 !)5 !+6 !+1 !+) !+) !+)
125. 156.
Omitted by the Finance Act, 2010. Omitted by the Finance Act, 2010. PART XI OFFENCES AND PROSECUTIONS
151. 15!. 15!A. 15%. 15). 15+. 15,. 150. 152. 155. !66. !61. !6!. !6%. !6%A. !6).
Pro$ec4tion #or non/co -liance 'ith certain $tat4tor. o*li1ation$ Pro$ec4tion #or #al$e $tate ent in &eri#ication Pro$ec4tion #or conceal ent o# inco e. Pro$ec4tion #or #ail4re to aintain record$ Pro$ec4tion #or i -ro-er 4$e o# National Tax N4 *er Certi#icate Pro$ec4tion #or a@in1 #al$e or i$leadin1 $tate ent$ Pro$ec4tion #or o*$tr4ctin1 an inco e tax a4thorit. Pro$ec4tion #or di$-o$al o# -ro-ert. to -re&ent attach ent Pro$ec4tion #or 4na4thoriGed di$clo$4re o# in#or ation *. a -4*lic $er&ant Pro$ec4tion #or a*et ent O##ence$ *. co -anie$ and a$$ociation$ o# -er$on$ In$tit4tion o# -ro$ec4tion -roceedin1$ 'itho4t -re;4dice to other action Po'er to co -o4nd o##ence$ Trial *. S-ecial E4d1e A--eal a1ain$t the order o# a S-ecial E4d1e Po'er to tender i 4nit. #ro -ro$ec4tion PART XII ADDITIONAL TAX
!,+ !,, !,, !,, !,, !,0 !,0 !,0 !,2 !,2 !,2 !,5 !,5 !,5 !06 !06
!6+. !6+A.
"e#a4lt $4rchar1e Red4ction in de#a4lt $4rchar1e, con$e94ential to red4ction in tax or -enalt. PART XIII CIRCULARS
!0! !0)
!6,. !6,A.
!0, !0,
GENERAL !60. !62. !65. !16. !11. !1!. !1%. !1). !1)A. !1)<. !1)C. !1+. !1,. !10. !12. !15. !!6. !!1. !!!. !!%. !!). !!+. !!,. !!0. !!0A. Inco e tax a4thoritie$ A--oint ent o# inco e tax a4thoritie$ E4ri$diction o# inco e tax a4thoritie$ "ele1ation Po'er or #4nction exerci$ed A4thorit. o# a--ro&al 34idance to inco e tax a4thoritie$ Inco e tax a4thoritie$ to #ollo' order$ o# the <oard Condonation o# ti e li it Po'er o# the <oard to call #or record$ Selection #or a4dit *. the <oard >4rni$hin1 o# ret4rn$, doc4 ent$ etc. "i$clo$4re o# in#or ation *. a -4*lic $er&ant >or $ and notice$K a4thentication o# doc4 ent$ Ser&ice o# notice$ and other doc4 ent$ Tax or re#4nd to *e co -4ted to the neare$t R4-ee Recei-t$ #or a o4nt$ -aid Recti#ication o# i$ta@e$ A--oint ent o# ex-ert A--earance *. a4thoriGed re-re$entati&e Proceedin1$ 4nder the Ordinance to *e ;4dicial -roceedin1$ Proceedin1$ a1ain$t co -anie$ 4nder li94idation Co -4tation o# li itation -eriod <ar o# $4it$ in Ci&il Co4rt$ Re'ard to o##icer$ and o##icial$ o# Inland Re&en4e !00 !02 !05 !21 !2% !2% !2) !2) !2) !2+ !2+ !2, !2, !56 !56 !51 !51 !5! !5! !5! !5+ !5+ !5+ !5, !5,
PART II DIRECTORATES3GENERAL !!2. !!5. !%6. The "irectorate/3eneral o# Internal A4dit "irectorate 3eneral o# Trainin1 and Re$earch "irectorate 3eneral HIntelli1ence and In&e$ti1ationI, Inland Re&en4e PART III DIRECTORATES3GENERAL !%6A. !%6<. !%6C. "irectorate/3eneral o# Dithholdin1 Taxe$ "irectorate/3eneral o# La' "irectorate/3eneral o# Re$earch and "e&elo- ent !55 !55 !55 !50 !50 !50
231.
C#APTER XII(
TRANSITIONAL ADVANCE TAX PROVISIONS !%1A. !%1AA. !%1<. 232. !%%. !%%A. !%%AA. !%). !%)A. !%+. !%,. !%,A. !%,<. !%,C. !%,". !%,E !%,>. !%,3. !%,7. !%,I. !%,E.
Ca$h 'ithdra'al #ro a *an@ Ad&ance tax on tran$action$ in *an@ P4rcha$e o# otor car$ and ;ee-$
Omitted by the Finance Ordinance, 2002 <ro@era1e and Co i$$ion Collection o# tax *. a $toc@ exchan1e re1i$tered in Pa@i$tan Collection o# tax *. NCCPL Tax on otor &ehicle$ CN3 Station$. Electricit. Con$4 -tion Tele-hone 4$er$ Ad&ance tax at the ti e o# $ale *. a4ction Ad&ance tax on -4rcha$e o# air tic@et Ad&ance Tax on $ale or tran$#er o# i o&a*le Pro-ert. Ad&ance tax on #4nction$ and 1atherin1$ Ad&ance tax on #orei1n/-rod4ced T8 -la.$ and $erial$ Ad&ance tax on ca*le o-erator$ and other electronic edia Ad&ance tax on $ale$ to di$tri*4tor$, dealer$ and 'hole$aler$ Ad&ance tax on $ale$ to retailer$ Collection o# ad&ance tax *. ed4cational in$tit4tion$ Ad&ance tax on dealer$, co i$$ion a1ent$ and arhatis etc.
%66 %66 %61 %6! %6% %6% %6) %6+ %6+ %6, %6, %60 %60 %62 %62 %62 %65 %65 %65 %16
C7APTER XIII
MISCELLANEOUS !%0. !%0A. !%2. !%5. !%5A. !%5<. !)6. Po'er to a@e r4le$ Electronic record Re-eal Sa&in1$ Tran$ition to >ederal <oard o# Re&en4e. Re#erence to a4thoritie$ Re o&al o# di##ic4ltie$ %11 %1! %1! %1! %1, %1, %1,
SC#EDULES
FIRST SC#EDULE( PART I
RATES OF TAX D&2&'&1n I R/te' 17 T/6 710 In(&2&(u/%' /n( A''1.&/t&1n 17 Pe0'1n' %12
%12
%!,
%!,
0e'&(ent'
"i&i$ion 8
R/te 17 T/6 1n Sh&--&n4 10 A&0 T0/n'-10t In.15e 17 / N1n30e'&(ent Pe0'1n
%!0
D&2&'&1n VII C/-&t/% G/&n' 1n (&'-1'/% 17 Se.u0&t&e' D&2&'&1n VIII C/-&t/% G/&n' 1n D&'-1'/% 17 I5512/$%e P01-e0t)
%!5 %%6
PART II
R/te' 17 A(2/n.e T/6 T/6 1n I5-10t 17 G11('
%%1
%%!
PART III
DEDUCTION OF TAX AT SOURCE
%%%
"i&i$ion I
P017&t 1n (e$t
%%%
"i&i$ion II
P/)5ent' t1 n1n30e'&(ent'
%%%
"i&i$ion III
P/)5ent' 710 G11(' 10 Se02&.e' D&2&'&1n III A
%%)
%%,
"i&i$ion 8
In.15e 7015 P01-e0t)
%%0
"i&i$ion 8I
P0&8e' /n( ,&nn&n4'
%%2
%%2
%%5
PART I8
DEDUCTION OR COLLECTION OF ADVANCE TAX
%)6
"i&i$ion II
019e0/4e C155&''&1n
%)6
"i&i$ion IIA Rate$ #or Collection o# Tax *. a Stoc@ Exchan1e Re1i$tered in Pa@i$tan "i&i$ion II< Rate$ #or collection o# tax *. NCCPL "i&i$ion III
T/6 1n 51t10 2eh&.%e'
%)1
%)1
%)1
"i&i$ion I8
E%e.t0&.&t) C1n'u5-t&1n
%)%
"i&i$ion 8
Te%e-h1ne u'e0'
%)+
*an@
%),
%),
"i&i$ion 8II P4rcha$e o# Motor Car$ and Eee-$ "i&i$ion 8III Ad&ance tax at the ti e o# $ale *. a4ction
%),
%)0
%)0
%)0
%)0
%)2
D&2&'&1n XIII D&2&'&1n XIV A(2/n.e t/6 1n '/%e t1 (&'t0&$ut10', (e/%e0' 10 :h1%e'/%e0'
%)2 %)5
D&2&'&1n XV A(2/n.e t/6 1n '/%e t1 0et/&%e0' D&2&'&1n XVI C1%%e.t&1n 17 /(2/n.e t/6 $) e(u./t&1n/% &n't&tut&1n' D&2&'&1n XVII A(2/n.e t/6 1n (e/%e0', .155&''&1n /4ent' /n( /0h/t&', et.;
%)5
%)5
%)5
%+6
PART I
EXEMPTIONS FROM TOTAL INCOME
%+6
PART II
REDUCTION IN TAX RATES
%5!
PART III
REDUCTION IN TAX LIA ILIT+
)61
PRT I8
EXEMPTION FROM SPECIFIC PROVISIONS
)6+
)%,
)%,
PART II
INITIAL ALLO,ANCE
)%2
PART III
PRE3COMMENCEMENT EXPENDITURE
)%5
T7E >OURT7 SC7E"ULE RULES >OR T7E COMPUTATION O> T7E PRO>ITS AN" 3AINS O> INSURANCE <USINESS
))6
))+
))+
PART II
RULES FOR T#E COMPUTATION OF T#E PROFITS AND GAINS FROM T#E EXPLORATION AND EXTRACTION OF MINERALS DEPOSITS !OT#ER T#AN PETROLEUM" )+1
)+)
)+)
PART II
APPROVED SUPERANNUATION FUNDS
),%
PART III
APPROVED GRATUIT+ FUNDS
),0
)06
RULES FOR T#E COMPUTATION OF T#E PROFITS AND GAINS OF A ANKING COMPAN+ AND TAX PA+A LE T#EREON
)0!
)05
)05