Credit for tax collected or deducted Section 168(3)

Credit for tax collected or deducted Section 168(3)

The Finance Act has approved that no tax credit shall be allowed for any tax collected or deducted that is a final tax on the:

(a) income of non-resident person for foreign produced commercial for advertisement on any television channel or any other media; and

(b) income of the non-resident company arising out of capital gain on the disposal of debt instruments and Government securities including treasury bills and Pakistan investment bonds invested through SCRA.

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