Tax credit for industrial undertakings established before the first day of July, 2011
Name of Incentive
Tax credit for industrial undertakings established before the first day of July, 2011
Type of Incentive
Tax Incentive
Ministry
Agency
Sector
Industry
Sub Sector
Product/Activity
Incentive Details
Description
Where a taxpayer being a company, setup in Pakistan before the first day of July, 2011, invests any amount, with hundred per cent new equity raised through issuance of new shares, in the purchase and installation of plant and machinery for an industrial undertaking, including corporate dairy farming, for the purposes of-
(i) expansion of the plant and machinery already installed therein; or
(ii) undertaking a new project, a tax credit shall be allowed against the tax payable for a period of five years beginning from the date of setting up or commencement of commercial production from the new plant or expansion project, whichever is late
