Pakistan Telecommunication Company Limited’s adoption of calendar year as accounting year

Karachi, November 05, 2012 (PPI-OT): We would like to inform you that the Commissioner of Inland Revenue, Islamabad has consented and allowed the Company to adopt calendar year as the special tax year through his Order No. 704 dated 25 October 2012 on the basis of approval of Board of Directors of the Company in their meeting held on 11 September 2012 at Islamabad in relation to change of the financial year of the Company. Copy of the said Order is enclosed as Annexure A.

From the contents of the Order you will observe that the approval is to take effect from the year 2013, hence the transitional accounting year would be 01 July 2012 ending on 31 December 2012. Thereafter the accounting year of the Company will be on January to 31 December.

Order under Section 74 (3) of the Income Tax Ordinance, 2001 in the Case of M/S Pakistan Telecommunication Company Limited to Adopt Calendar Year as its “Special Tax Year”.

In exercise of powers conferred upon the undersigned under the provision of section 74 of the Income Tax Ordinance, 2001 M/s Pakistan Telecommunication Company Limited, is allowed to adopt the calendar year as its “Special Tax Year”.

This order shall take effect w.e.f. 01.01.2013.

For more information, contact:
Farah Qamar
Company Secretary
Pakistan Telecommunication Company Limited
PTCL Headquarters,
Sector G-8/4, Islamabad