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FBR Planning to Remove These Corporate Income Tax Exemptions
The Federal Board of Revenue (FBR) is presently reviewing the following list of corporate income tax exemptions with revenue impact for possible withdrawal before the next fiscal year:
Tax credit for investment in balancing, modernization, and replacement of plant and machinery (corporate manufacturing sector), Rs. 65.168 billion.
Tax credit for enlistment in Stock Exchange (Companies opting for enlistment in a registered stock exchange), Rs. 357 million.
Tax credit for newly established industrial undertakings corporate industrial units (including corporate dairy farming), Rs. 5.573 billion.
Tax credit for industrial undertakings established before the first day of July 2011 (corporate industrial units including corporate dairy farming), Rs. 6.486 billion. ....

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