Zhang Baozhong, the chairman of China Overseas Ports Holding Company – the firm that operates Gwadar Port – has said that the first phase of the special economic zone under the China-Pakistan Economic Corridor has been completed in which 43 Chinese companies are going to invest while 200 more firms have been registered for the purpose.
FBR Planning to Remove These Corporate Income Tax Exemptions
The Federal Board of Revenue (FBR) is presently reviewing the following list of corporate income tax exemptions with revenue impact for possible withdrawal before the next fiscal year:
Tax credit for investment in balancing, modernization, and replacement of plant and machinery (corporate manufacturing sector), Rs. 65.168 billion.
Tax credit for enlistment in Stock Exchange (Companies opting for enlistment in a registered stock exchange), Rs. 357 million.
Tax credit for newly established industrial undertakings corporate industrial units (including corporate dairy farming), Rs. 5.573 billion.
Tax credit for industrial undertakings established before the first day of July 2011 (corporate industrial units including corporate dairy farming), Rs. 6.486 billion.
Dreams come true through CPEC By Naseem Baloch | chinadaily.com.cn | Updated: 2020-12-21 16:01 The Pak-China Friendship School Gwadar, built by CFPD in 2016 and expanded in 2020.[Photo provided to chinadaily.com.cn]
I first came to China in April 2016 with officials of the government of Balochistan, Pakistan on the invitation of the China Foundation for Peace and Development on behalf of my father. My family was among the initial people to warmly welcome the China-Pakistan Economic Corridor and, in 2015, donated the land for a school in Gwadar. Gwadar is considered the heart of the CPEC, which is one of the most important corridors of China s Belt and Road Initiative. CPEC is a regional connectivity framework that will benefit both China and Pakistan and positively impact Iran, Afghanistan, the Central Asian republics and the region. Officially, CPEC began in April 2015, when Chinese President Xi Jinping visited Pakistan. CPEC is connecting G