Karachi: All the listed companies and Issuers of the listed securities are hereby informed that Federal Board of Revenue (FRR) has issued Tax Exemption Certificate to KSE (copy enclosed). In this respect, all listed companies and issuers of the listed securities are advised not to deduct tax on payments made to KSE against acquiring the services subject to tax deductions at source under Sub-Section (1) of Section 153 of the Income Tax Ordinance, 2001 upto December 31, 2011.
Exemption Certificate # 79 U/S 153 (4) of the Income Tax Ordinance, 2001
In exorcise of powers conferred by sub-section (4) of Section 153 of the Income Tax Ordinance, 2001 read with clause (xvii) of SRO 586(I)/91 dated 30-06-1991, It Is hereby directed that no deduction of tax shall be made under sub-section (1) of Section 153 of the Income Tax Ordinance, 2001 in the case of M/S. The Karachi Stock Exchange (Guarantee) Limited, Karachi holding National Tax Number 34-01-0710853-2 from payments representing to services rendered by it.
It is however, directed that tax already deducted under sub-section (1) of Section 153 of the Income Tax Ordinance, 2001 shall not be refunded to the taxpayer but shall be deposited into government treasury.
This exemption certificate is valid up to 31.12.2011
For more information, contact:
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136