Amendment in Section 53 of the Ordinance
Amendment in Section 53 of the Ordinance: Section 53 provides for powers to grant exemptions and tax concessions. These powers have been vested with the Board with the approval of Federal Minister In-charge pursuant to the approval of Economic Coordination Committee of the Cabinet (ECC).
The New Ordinance provides that such powers shall also be available to the Federal Government in addition the existing powers of the Board.
For more information on FBR’s new regulations / circulars/ SROs/ amendments in taxation laws in Pakistan please visit https://www.fbr.gov.pk/