Special Economic Zones (Amendment) Act, 2016 (Act No. XLV of 2016)

2. Amendment of sectioi:1 3, Ac:1 XX of 2012.~ln the Special Economic Zones Act, 2012 (XX of2012), hereinafter l'efe.rred to as the sard Act, in section 3,. for clause (n), the following shall be substituted, . namely:- . ' ''(n) "Special Economic Zone" or "(SEZ)" means a geographically defined and delimited area which has been approved and no(ified by the BOA; ".

3. Amendment of section 1S, Act X,'I{ o( 2012.-ln the said Act, in section J 5,- (i) for sub-section (2), the following shall' be substilUted, namely:- "(2) · From the conimencemcnt of the Special Economic Zones (Amendment) Ordinance, 2015 (XVlll of2015), only new entrants and new industries that are setup after the establishment of the SEZ may avai!l SEZ enterprise benefits u(l(ler this Act." and · (ii) sub-sections (3), (4) and (5) shall be omitted.

4. Amendment o( section 16, Act XX of 2012.-Jn the said Act, in section 16,- (i) sub-section (I) shall be omitted: and (ii) sub-section (2) and sub-section (3) !:hall be renumbere.d as sub-section (I) and sub-section (2), res:pectively.

5. Omission of section 33, Act XX of2012.-In the said Act, section 33 shall be omitted.

6. Amendment of section 36, Act XX of 20:12.-In the said Act, in sectioo 36,- (i) forciause(a), the following shall be substituted, namely:- "(a) one time exemption from all custom-duties and taxes on plant and machinery imported i11to Pakistan except the items listed under Chapter 87 of the Pakistan Customs Tariff, for the setting up ofan SEZ subject to veriJ'ication by the BO!;" and P/\RT I] THE GAZETTE OF PAKISTAN, EXTRA., OCJ:OBER26, 2016 801 (ii) in clause (b), fotthe word "Exem~tion" occurring in the beginning. the word ''exemption'' shall be substituted and for the word "ten" the word "five" shall be subStituted.

7. Amendment of s~tion 37, Act XX of 20112.-ln the said Act, in section 37,- (i) forela\1se (a), the following shall be substituted, ~amely:- "(a) one time exemption from custom-duties and taxes on import of plant ,machinery into SEZ except items listed under Chapter 87 of the Pakistan Customs Tariff, for installation in that zone enterprise subject to verification by the BO!;" and (Ii) for clause (b), the following shall be substituted, namely:- "(b) exemption from all taxes on incoMe for enterpr.ises commencing commercial production by the thirtieth June, 2020, in the SEZs for the next ten years: Provided that exemption fron1 all taxes on income for those zone enterprises or firms whicJi commence commercial production lifter the aforesaid date· shall be for the next five years." SYED MUSSARRAT ABBAS, Acting Secretary PRl~lll l)V TflE MANAGER., PRINTING CORPORI\TION OF PAKISTAN PRESS. ISLAMABAtl. PUBLISHED !IY 'IJJE DEPUTY CONTROLLER, STATfON£RY ANO FORMS. tJNJVERSflY ROAD, KARACHI,