53BB. Collection of tax from export of certain items.-

**[1[2[53BB.  Collection  of tax  from export  of  certain items.- 

The  bank,  throughwhich export proceeds of an exporter of knit wear and woven garments, terry towel,  carton  and  accessories  of  garments  industry  jute  goods,  frozen  food, vegetables, leather goods, packed food is received, shall deduct tax at the rateof  3[one percent (1%)]  of the total export proceeds at the time of crediting the proceeds to the account of the exporter:

Provided that where the Board, on an application made in this behalf, gives a certificate  in  writing  that  the  income  of  the  exporter  is  partly  or  fully exempted  from  tax  under  any  provision  of  the  Ordinance,  credit  to  the account  of  the  assessee  shall  be  made  without  any  deduction  of  tax  or deduction of tax at a rate less than the rate specified in this section for the period mentioned in that certificate.


** The rate under section 53BB has been reduced from "(0.80%)" to "(60%)" by SRO No. 224-L/2015. Dated: 02/07/2015 }

1 Ins. Sec. 53BB and 53BBB by F.A. 2005
2 Subs. Sec 53BB by F.A. 2009
3 Subs. for "zero point six one percent (1%)" by F.A. 2016

* The rate "zero point eight zero percent (o.10%)" has been reduced to "zero point zero five percent (0.05%)" by SRO No. 334-L/IT/2011 Dated: 27/10/2011      


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