FBR Releases List of Income Tax-Exempt Entities for 2024

FBR Releases List of Income Tax-Exempt Entities for 2024

Karachi, January 11, 2024 – The Federal Board of Revenue (FBR) has unveiled a detailed list of entities entitled to income tax exemption for the tax year 2024.

The FBR, in compliance with the updated Income Tax Ordinance, 2001, has issued an amended and extensive roster of organizations and funds qualifying for tax relief.

The tax exemptions encompass income derived by various institutions, foundations, societies, boards, trusts, and funds. The list includes:

1. International Islamic Trade Finance Corporation.

2. Islamic Corporation for Development of Private Sector.

3. National Memorial Bab-e-Pakistan Trust.

4. Pakistan Agricultural Research Council.

5. Corporatized entities of Pakistan Water and Power Development Authority (WAPDA) until completion of the corporatization process.

6. Prime Minister’s Special Fund for victims of terrorism.

7. Chief Minister’s (Punjab) Relief Fund for Internally Displaced Persons (IDPs) of NWFP.

8. Institutions of the Agha Khan Development Network (Pakistan).

9. Pakistan Council of Scientific and Industrial Research.

10. Pakistan Water and Power Development Authority (WAPDA).

11. WAPDA First Sukuk Company Limited.

12. Pension of a former President of Pakistan and his widow.

13. State Bank of Pakistan and State Bank of Pakistan Banking Services Corporation.

14. International Finance Corporation.

15. Pakistan Domestic Sukuk Company Ltd.

16. ECO Trade and Development Bank.

17. Islamic Chamber of Commerce and Industry under the Organization of Islamic Conference (OIC).

18. Commission on Science and Technology for Sustainable Development in the South (COMSATS).

19. WAPDA on issuance of TFC’s/SUKUK certificates for Diamer Bhasha Dam Projects.

20. Federal Board of Revenue Foundation.

21. WAPDA Second Sukuk Company Limited.

22. Pakistan International Sukuk Company Limited.

23. Second Pakistan International Sukuk Company Limited.

24. Third Pakistan International Sukuk Company Limited.

25. Asian Infrastructure Investment Bank.

26. Supreme Court of Pakistan – Diamer Bhasha & Mohmand Dams – Fund.

27. National Disaster Risk Management Fund.

28. Deposit Protection Corporation.

29. SAARC Energy Centre.

30. Asian Development Bank.

31. Prime Minister’s COVID-19 Pandemic Relief Fund-2020.

32. Saarc Arbitration Council (SARCO).

33. International Parliamentarians’ Congress.

34. Sindh Institute of Urology and Transplantation, SIUT Trust, and Society for the Welfare of SIUT.

35. Shaukat Khanum Memorial Trust.

36. National Endowment Scholarship for Talent (NEST).

37. Islamic Naya Pakistan Certificates Company Limited (INPCCL).

38. Abdul Sattar Edhi Foundation.

39. Patient’s Aid Foundation.

40. Indus Hospital and Health Network.

41. Securities and Exchange Commission of Pakistan.

42. Dawat-e-Hadiya, Karachi.

43. Privatisation Commission of Pakistan.

44. The Citizens Foundation.

45. Sundus Foundation.

46. Ali Zaib Foundation.

47. Fauji Foundation.

48. Make a Wish Foundation.

49. Audit Oversight Board.

50. Supreme Court Water Conservation Account.

51. Layton Rahmatullah Benevolent Trust (LRBT).

52. Baluchistan Education Endowment Fund (BEEF).

53. Saylani Welfare International Trust.

54. Chiniot Anjuman Islamia.

55. Army Welfare Trust.

56. Pakistan Mortgage Refinance Company Limited.

57. Pakistan Global Sukuk Programme Company Limited.

58. Karandaaz Pakistan.

59. Pakistan Sweet Homes Angels and Fairies Place.

60. Public Private Partnership Authority.

61. Dawat-e-Islami Trust.

62. Hamdard Laboratories (Waqf) Pakistan.

63. Prime Minister’s Relief Fund for Flood, Earthquake, and Other Calamities.

64. Film and Drama Finance Fund.

65. Export-Import Bank of Pakistan.

66. Shaheed Mohtarma Benazir Bhutto Institute of Trauma, Karachi.

67. Shaheed Zulfikar Ali Bhutto Institute of Science and Technology.

This comprehensive list serves as a guide for entities eligible for tax exemptions, promoting transparency and clarity in the income tax system.