{"id":66858,"date":"2020-06-19T10:16:14","date_gmt":"2020-06-19T05:16:14","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=66858"},"modified":"2020-06-19T10:16:15","modified_gmt":"2020-06-19T05:16:15","slug":"gwadar-agreement-mandates-20-year-tax-holiday-senate-body-told","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/gwadar-agreement-mandates-20-year-tax-holiday-senate-body-told.html","title":{"rendered":"Gwadar Agreement mandates 20-year tax holiday, Senate body told"},"content":{"rendered":"\n<p>Islamabad: The Ministry of Maritime Affairs Secretary Rizwan Ahmad on Wednesday informed the Senate Standing Committee on Finance that the original Gwadar Port agreement mandated a 20-year tax holiday instead of 40 years for port operators and their contractors \u2014 a news source reported. He further said that there was no provision for providing tax concessions to sub-contractors in the original agreement.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/pak-afghan-trade-begins-via-gwadar-port.html\" target=\"_blank\" rel=\"noreferrer noopener\">Pak-Afghan trade begins via Gwadar Port<\/a><\/p>\n\n\n\n<p>The senate body had summoned the secretary to produce the original Gwadar port concession agreement. The body was informed of the FBR\u2019s proposal for a 40-year tax holiday for Gwadar Port operators, its contractors, and sub-contractors as per the recommendations of the maritime affairs ministry.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/cda-to-launch-tourism-projects-in-gwadar-other-districts.html\" target=\"_blank\" rel=\"noreferrer noopener\">CDA to launch tourism projects in Gwadar, other districts<\/a><\/p>\n\n\n\n<p>Chairman of the Senate\u2019s Standing Committee Farooq H Naek instructed the secretary to produce the original document before the senate on Thursday. The original agreement had been signed between Pakistan and a Singaporean company, which had handed over the project to a Chinese company through another agreement in 2013. The secretary has been instructed to produce this latter as well.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Ministry of Maritime Affairs Secretary Rizwan Ahmad on Wednesday informed the Senate Standing Committee on Finance that the original Gwadar Port agreement mandated a 20-year tax holiday instead of 40 years for port operators and their contractors \u2014 a news source reported. He further said that there was no provision for providing tax concessions to sub-contractors in the original agreement. Read: Pak-Afghan trade begins via Gwadar Port The senate body had summoned the secretary to produce the original Gwadar port concession agreement. The body was informed of the FBR\u2019s proposal for a 40-year tax holiday for Gwadar Port operators, its contractors, and sub-contractors as per the recommendations of the maritime affairs ministry. Read: CDA to launch tourism projects in Gwadar, other districts Chairman of the Senate\u2019s Standing Committee Farooq H Naek instructed the secretary to produce the original document before the senate on Thursday. The original agreement had been signed between Pakistan and a Singaporean company, which had handed over the project to a Chinese company through another agreement in 2013. The secretary has been instructed to produce this latter as well.<\/p>\n","protected":false},"author":57,"featured_media":60701,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[32212,32210,32211],"persona":[],"class_list":{"0":"post-66858","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-gwadar-agreement","9":"tag-gwadar-agreement-mandates-20-year-tax-holiday","10":"tag-senate-body-told","11":"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>Gwadar Agreement mandates 20-year tax holiday - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The Ministry of Maritime Affairs Secretary Rizwan Ahmad on Wednesday informed the Senate Standing Committee on Finance that the original Gwadar Port agreement mandated a 20-year tax holiday instead of 40 years for port operators and their contractors \u2014 a news source reported.\" \/>\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\/gwadar-agreement-mandates-20-year-tax-holiday-senate-body-told.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gwadar Agreement mandates 20-year tax holiday - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The Ministry of Maritime Affairs Secretary Rizwan Ahmad on Wednesday informed the Senate Standing Committee on Finance that the original Gwadar Port agreement mandated a 20-year tax holiday instead of 40 years for port operators and their contractors \u2014 a news source reported.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/gwadar-agreement-mandates-20-year-tax-holiday-senate-body-told.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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