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ACT V OF 2019 ACT V OF 2019 BALOCHISTAN FINANCE ACT, 2019 An Act to continue and revise certain taxes and fees in the Province of Balochistan [Gazette of Balochistan Extraordinary, 25th July, 2019] No. PAB/Legis; V (11)/2019/6035, dated 25.7.2019.---The Balochistan Finance Bill No. 11 of 2019 having been passed by the Provincial Assembly of Balochistan on 27th June ,2019 and assented to by the Governor Balochistan, on 23rd July, 2019 is hereby published as an Act of the Balochistan Provincial Assembly. Preamble.---Whereas it is expedient to continue and revise certain taxes and fees in the Province of Balochistan and for the matters connected therewith or ancillary thereto; It is hereby enacted as follows: - 5. Amendment in West Pakistan Act No. I of 1964.---In the Balochistan Finance Act, 1964 (West Pakistan Act XXXIV of 1964), in section 11, in clause (h), the word "and" and appearing at the end shall be omitted; and thereafter, after clause (i), the following new clauses (j), (k) and (l), shall be inserted, namely:- (1) "(j) All Limited Companies with paid up capital and reserve: Particulars Rate of Tax All Limited Companies, other than those as mentioned in clauses (f), (g) and (i), Modarbas, Mutual Fund, and any other body corporate with paid-up capital or paid up share Capital and reserves in the preceding year whichever is higher: - (i) not exceeding Rs. 10 Million. Rs. 2,000 per annum. (ii) exceeding Rs. 10 million but not exceeding Rs. 25 million. Rs. 15,000 per annum. (iii) exceeding Rs. 25 million but not exceeding Rs. 50 million. Rs. 22,000 per annum. (iv) exceeding Rs. 50 million but not exceeding Rs. 100 million. Rs. 52,000 per annum. (v) exceeding Rs. 100 million but not Rs. 200 million. Rs. 77,000 per annum. (vi) exceeding Rs. 200 million and above. Rs. 100,000 per annum; (k) All petrol pumps and CNG station. A person or class of persons engaged in the business of selling petroleum products shall pay tax for each financial year at the rate of Rs. 2,000 per annum, whereas, the petrol pump and CNG station shall pay tax for each financial year at the rate Rs. 5,000; and (l) Commercial establishments other than mentioned in clauses 'a' to 'k'. Any commercial establishment not covered in any of the clauses a to k will be charge to tax for Rs. 300 per annum.". (2) in section 2, after clause (iii), the following explanation shall be added: - "Explanation: For this section, the term "Specialist Doctors" means, MBBS Doctor who has been awarded a postgraduate degree by any recognized Institution; and the term "General Doctors" mean, MBBS Doctor who is not a Specialist Doctor.".