THE KHYBER PAKHTUNKHWA FINANCE ACT, 2015.

(KHYBER PAKHTUNKHWA ACT NO. XXIII OF 2015)

CONTENTS

PREAMBLE

SECTIONS

1.         Short title, extent, and commencement.

2.          Amendment of West Pakistan Act No. V of 1958.

3.         Amendment of West Pakistan Act No. XXXII of 1958.

4.         Amendment in the Khyber Pakhtunkhwa Act No. I of 1996.

5.         Amendment in the Khyber Pakhtunkhwa Act No. XXI of 2013.

Appendix

SCHEDULE-II

THE KHYBER PAKHTUNKHWA FINANCE ACT, 2015.

(KHYBER PAKHTUNKHWA ACT NO. XXIII OF 2015)

[First published after having received the assent of the Governor of

 the Khyber Pakhtunkhwa in the Gazette of Khyber Pakhtunkhwa

(Extraordinary),dated the 1^stJuly,2015].

AN

ACT

o continue,  alter and exempt certain taxes and cess

in the Province of the Khyber Pakhtunkhwa.

Preamble.-WHEREAS it is expedient to continue, alter and exempt certain taxes and cess in the Province of the Khyber Pakhtunkhwa.

            It is hereby enacted as follows:

1.         Short title, extent and commencement.---(1) This Act may be called the Khyber Pakhtunkhwa Finance Act, 2015.

            (2)       It shall extend to the whole of the Province of the Khyber Pakhtunkhwa.

            (3)       It shall come into force on the first day of July, 2015.

2.         Amendment of West Pakistan Act No. V of 1958.---In the West Pakistan Urban Immoveable Property Tax Act, 1958 (W. P. Act No. V of 1958), in Schedule-II,-

(i)        in entry at serial No. 3, for the existing clauses (a), (b), (c) and (d), the following shall respectively be substituted, namely:

            “(a)     For A1 locality                                 Thirteen

            (b)       For A locality                                    Ten

            (c)       For B locality                                    Eight

            (d)       For D locality                                    Six”;

(ii)       in entry at S. No.7, for the figures “10,000” and “5000”, the figures “15000” and “7500” shall respectively be substituted; and

(iii)     in entry at S. No.7A, for the figures "10,000", the figures “15000" shall be substituted.

3.         Amendment of West Pakistan Act No. XXXII of 1958.---In the West Pakistan Motor Vehicles Taxation Act, 1958 (W. P. Act No. XXXII of 1958),-

(i)        for the existing Schedule-II, the Schedule specified in the Appendix to this Act shall be substituted;

(ii)       in section 3, in sub-section (1), the full stop appearing at the end of second proviso shall be replaced by a colon and thereafter, the following proviso shall be added, namely:

“Provided also that if so opted by a tax payer, the tax in respect of a motor vehicle other than transport vehicle may be levied once for all at such rate in accordance to the specifications of such motor vehicle and in such a manner and subject to such terms and conditions as may be prescribed and if the tax is so paid such motor vehicle shall forever cease to be liable to the payment of tax under this Act.

Explanation: For the purpose of this section, transport vehicle shall have the same meaning as given to them in the Motor Vehicles Ordinance, 1965 (W.P Ord. XIX of 1965).”.

4.         Amendment in the Khyber Pakhtunkhwa Act No. I of 1996.---In the Khyber Pakhtunkhwa Finance Act, 1996 (Khyber Pakhtunkhwa Act No. I of 1996, in section 11, in sub-section (1), for the words “tobacco”, the words “the following categories of the tobacco and its various parts” shall be inserted.

5.         Amendments in the Khyber Pakhtunkhwa Act No. XXI of 2013.---In the Khyber Pakhtunkhwa Finance Act, 2013 (Khyber Pakhtunkhwa Act No. XXI of 2013), -

(i)        in section 51, in sub section (1), after the words and comma "or a firm of Cost and Management Accountants", the words and commas "or any consultant, foreign or local, having expertise in the forensic audit" shall be inserted;

(ii)       in section 94, after sub section (2), the following new sub-section shall be added, namely:

“(3)     The Government may, by notification in official Gazette, exempt any goods from levy of the Cess under this section, subject to such conditions, limitation or restrictions as it may specify in the said notification:

Provided that all such notifications issued during a financial year shall be laid before the Provincial Assembly at the time of presenting finance bill;” and

(iii)     in First Schedule,-

(a)       after existing entry "9809.0000" the following new entry shall be added, namely:

"9809.1000   Printing Services";

(b)       after existing entry “9812.2500”, the following new entries shall be added, namely:

"9812.2600               Voice over I.P services

9812.2700                 Teleconferencing services

9812.2800                 3G/4G LTE services"; and

(c)       after the existing entry “9874.0000”, the following new entry shall be added, namely:

"9875.0000               Electric power transmission or distribution services".

Appendix

“SCHEDULE-II

(See section 3)