State Bank simplifies non-resident companies' tax regime.

 
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The State Bank of Pakistan (SBP) has announced that amendments have been made to the Income Tax Ordinance 2001 in an attempt to simplify the tax regime for the non-resident companies investing in debt instruments and government securities.

"These amendments will deepen our capital markets, support availability of long-term rupee financing sources, support competition in the local currency debt market and diversify the source of funding for the government," the central bank said on Thursday.

The existing foreign exchange framework allows non-residents to invest in debt instruments and government securities through the Special Convertible Rupee Account (SCRA) maintained with banks in...

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