Tax Laws (Second Amendment) Ordinance, 2022
Tax Laws (Second Amendment) Ordinance, 2022
Tax Laws (Second Amendment) Ordinance, 2022 were enacted to amend certain tax laws including Income Tax Ordinance, 2001, Sales Tax Act, 1990, Federal Excise Act, 2005 and Section 8 of the Finance Act, 2022. In Sales Tax Act, 1990 the words natural gas is included in Section 2 Sub Clause (i) of Sales Tax Act, 1990. Furthermore, amendments in Section 3 Sub Section (9) was made for levying/amending tax on electric bills. The amendments of Income Tax Ordinance, 2001 are made in Section 99-A i.e. special provisions relating to payment of tax through electricity including certain other amendments regarding taxation. The amendments of the Federal Excise Act, 2005 include certain changes in the rates of excise tax on vehicles. Moreover, the amendments of section 8 of the Finance Act, 2022 regarding definition of motor vehicle.
