TAXABILITY OF BUSINESS INCOME

[Section 18] The following earning of someone for a tax 12 months will be chargeable beneathneath the pinnacle “earnings from enterprise”, apart from earnings exempt from tax:

1. 1. Profits and profits of any enterprise carried on via way of means of someone at any time at some point of the tax 12 months.
2. 2. Income derived via way of means of any trade, expert or comparable affiliation from the sale of products or provision of offerings to its members. 3. Income from the rent or rent of exact movable property.
3. 4. Fair marketplace cost of any advantage or perquisite, whether or not convertible into cash or now no longer derived via way of means of someone from past, gift or potential enterprise relationship.
4. 5. Management price derived via way of means of a control enterprise (such as a modaraba) control enterprise.
5. 6. Any income on debt derived via way of means of someone in which the individual`s enterprise is to derive such earnings.
6. 7. Where a lessor, being a scheduled financial institution or an funding financial institution or a improvement finance group or a modaraba or a leasing *. enterprise has leased out any asset, whether or not owned via way of means of it or now no longer, to every other individual any quantity paid will be dealt with because the earnings of stated lessor.
7. 8. Any quantity acquired via way of means of a banking enterprise or a non-banking finance enterprise in which such quantity represents Dfa Ho distribution via way of means of a mutual fund or a Private Equity and Venture Capital Fund out of its earnings from income on debt will be chargeable to tax beneathneath the pinnacle earnings from enterprise.