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Corporate-sector-tax-exemptions
TAXATION

Corporate tax exemptions

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Following tax exemptions are available to corporate taxpayers:

Profits arrived from the business unit of an electric power generation project established in Pakistan are exempt from tax.

Profits earned by a company from the export of computer software, IT services, or IT-enabled services. These are exempt from tax up to the financial year ending 30 June 2025.

Profits from the business of refineries, which established between 1 July 2018 and 30 June 2023. Exemption has been given from tax for a period of 20 years. This exemption is subject to fulfillment of certain conditions.

Low-cost housing projects

Incentive available on Low-cost housing projects by reduction in tax liability. This incentive allowed on the profits of such low cost housing projects by reduction in tax liability by 50% on the fulfillment of certain conditions.

Naya Pakistan Housing and Development Authority / Ehsaas Programme

Income received from the projects of low-cost housing developed or approved by Naya Pakistan Housing and Development Authority (NAPHDA) or under the Ehsaas Programme have also been given incentive. In this case tax liability shall be reduced by 90%.

See also  Taxation of gifts in Pakistan

Moreover, in case of banking companies, the taxable income arising from additional advances shall be taxed at the rate of 10%. If such advances are given to Naya Pakistan Housing and Development Authority (NAPHDA) for low cost housing schemes.

Profits derived from any business unit established in ‘special economic zones’ is exempt from tax. This exemption is available for a period of ten years. The period starts from the date of start of commercial operations or production of the business unit. These ‘special economic zones’ established in many areas of the country.

Top-Tax-Consultants-Lahore-Pakistan-Global-Tax-Consultants
A d v e r t i s e m e n t

Profits earned by the ‘liquefied natural gas terminal operators’ and owners of terminals are exempt from tax. This exemption is available for a period of five years for a period starting from the date of commercial production.

Company Tax | Company Tax Return | Tax Exemptions | Corporate Tax Exemptions | Company Income Tax Return | Income Tax Return | FBR | Inland Revenue Service | Federal Board of Revenue | Company Tax Rates | Irs | Iris |

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