Tuesday, March 5, 2024

Income Tax exemption to International Bonds to be granted by the Govt.

The government has agreed to grant three foreign bonds an income tax exemption, i.e. Euro Bonds; Sukuk and Panda international bonds.

A summary for approval has been moved by the Finance Division to the federal cabinet. The Federal Cabinet meeting is scheduled for Tuesday (January 19).

The Finance Division’s summary to the Federal Cabinet is on the exemption from income tax on Euro Bonds and Foreign Sukuk issued under the Medium-Term Notes Program of the Government and on the Chinese market for Panda Bonds.

The Ministry of the Interior shall send a summary to the Federal Cabinet on the restoration of the Cabinet Committee concerning the elimination of difficulties in the installation of new Islamabad electricity and gas metres.

The meeting will also address the appointment of the President of the Pakistan Ordinance Factory Board (POFB).

The Finance Division will also transfer a summary to the Cabinet for the selection of Pakistan Development Fund Limited’s Chief Executive Officer (CEO), they said.

Sources also added that the cabinet will also consider the Maritime Affairs Division’s summary for approval by the Karachi Dock Labour Board (KDLB).

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