MEMORANDUM OF TAX LAWS (AMENDMENT) ORDINANCE, 2020
23 April 2020
The President of Pakistan has promulgated the Tax Laws (Amendment) Ordinance, 2020 (‘Amendment Ordinance’) on April 17, 2020. As the Presidential Ordinances have an effect for a period of 120 days, it is expected that the amendments made through the Amendment Ordinance will be incorporated through the forthcoming Finance Bill, 2020.
This Memorandum provides an overall overview of the major amendments made through the Amendment Ordinance promulgated by the President of Pakistan.
Clients are advised to consult the actual text of the Ordinance while interpreting the specific provisions and to consult our tax department for clear advice on specific issues. The provisions of the Ordinance are applicable immediately from the date of promulgation of the Ordinance.