Tax rates on return on investment in sukuk for TY22

Tax rates on return on investment in sukuk for TY22

The advance tax rates on return on investment in sukuk for the tax year 2022 are under the First Schedule of the Income Tax Ordinance, 2001.

The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through Finance Act, 2021.

The rate of tax to be deducted on return on investment in sukuks from a sukuk holder shall be—

(a) 25 per cent in case the sukuk-holder is a company;

(b) 12.5 per cent in case the sukuk-holder is an individual or an association of person, if the return on investment is more than one million;

(c) 10 per cent in case the sukuk-holder is an individual and an association of person, if the return on investment is less than one million;

(Disclaimer: The text of above section is only for information. Team PkRevenue.com makes all efforts to provide the correct version of the text. However, the team PkRevenue.com is not responsible for any error or omission.)

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