{"id":55214,"date":"2019-09-15T10:00:02","date_gmt":"2019-09-15T10:00:02","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=55214"},"modified":"2020-01-27T08:00:12","modified_gmt":"2020-01-27T08:00:12","slug":"ecc-drafts-tax-amendments-bill-gwadar","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/ecc-drafts-tax-amendments-bill-gwadar.html","title":{"rendered":"ECC drafts tax amendments bill for Gwadar"},"content":{"rendered":"<p>Islamabad: The divisional committee created by the Cabinet\u2019s Economic Coordination Committee (ECC) has prepared the draft law for tax amendments and exemptions regarding Gwadar Port and Gwadar Free Zone, according to a news source.<\/p>\n<p>The divisional committee held a meeting last week to execute the ECC&#8217;s orders regarding the introduction of an amended tax regime. Minister for Law and Justice Barrister Dr Muhammad Farogh Naseem chaired the session, while the Secretary Treasury, Secretary Commerce, Secretary Planning, Development and Reforms Division, Special Secretary Cabinet Division, the Chairman of the Federal Board of Revenue (FBR), and other officials concerned, attended the proceedings. Together, they deliberated on the imposition of income tax, sales tax and customs duties on the Gwadar Port and Free Zone \u2014 either through law-amendments or Statuary Regulation Orders (SROs).<\/p>\n<p><strong>Read:\u00a0<\/strong><a href=\"https:\/\/www.zameen.com\/news\/ndc-grant-tax-relief-businesses-gwadar-free-zone.html\" target=\"_blank\" rel=\"noopener noreferrer\">NDC to grant tax relief to businesses in Gwadar Free Zone<\/a><\/p>\n<p>The Maritime Ministry presented its proposal for the meeting\u2019s consideration, and the BoR made their suggestions about it as well. The meeting decided to devise an execution strategy for <a href=\"https:\/\/www.zameen.com\/news\/govt-approves-tax-exemptions-gwadar-free-zones-until-2039.html\" target=\"_blank\" rel=\"noopener noreferrer\">ECC\u2019s August 28 orders<\/a>, and will draft amendment bills as required, to be presented before the parliament.<\/p>\n<p><strong>Read:\u00a0<\/strong><a href=\"https:\/\/www.zameen.com\/news\/fbr-gives-tax-exemptions-to-businesses-operating-in-gwadar-free-zone.html\" target=\"_blank\" rel=\"noopener noreferrer\">FBR gives tax exemptions to businesses operating in Gwadar Free Zone<\/a><\/p>\n<p>The official press release said that Gwadar International Terminals Limited and Gwadar Marine Services Limited has been granted relief on customs duties imposed on imported good, as the FBR agreed for a zero-rating regime on import of raw materials, machinery and instruments.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The divisional committee created by the Cabinet\u2019s Economic Coordination Committee (ECC) has prepared the draft law for tax amendments and exemptions regarding Gwadar Port and Gwadar Free Zone, according to a news source. The divisional committee held a meeting last week to execute the ECC&#8217;s orders regarding the introduction of an amended tax regime. Minister for Law and Justice Barrister Dr Muhammad Farogh Naseem chaired the session, while the Secretary Treasury, Secretary Commerce, Secretary Planning, Development and Reforms Division, Special Secretary Cabinet Division, the Chairman of the Federal Board of Revenue (FBR), and other officials concerned, attended the proceedings. Together, they deliberated on the imposition of income tax, sales tax and customs duties on the Gwadar Port and Free Zone \u2014 either through law-amendments or Statuary Regulation Orders (SROs). Read:\u00a0NDC to grant tax relief to businesses in Gwadar Free Zone The Maritime Ministry presented its proposal for the meeting\u2019s consideration, and the BoR made their suggestions about it as well. The meeting decided to devise an execution strategy for ECC\u2019s August 28 orders, and will draft amendment bills as required, to be presented before the parliament. Read:\u00a0FBR gives tax exemptions to businesses operating in Gwadar Free Zone The official&hellip;<\/p>\n","protected":false},"author":75,"featured_media":41437,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[12984],"persona":[],"class_list":{"0":"post-55214","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-details-on-ecc-drafts-tax-amendments-bill-for-gwadar","9":"cat-15015-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ECC drafts tax amendments bill for Gwadar - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The divisional committee created by the Cabinet\u2019s Economic Coordination Committee (ECC) has prepared the draft law for tax amendments and\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/ecc-drafts-tax-amendments-bill-gwadar.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ECC drafts tax amendments bill for Gwadar - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The divisional committee created by the Cabinet\u2019s Economic Coordination Committee (ECC) has prepared the draft law for tax amendments and\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/ecc-drafts-tax-amendments-bill-gwadar.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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