ITO Section 100

Special provisions relating to the production of oil and natural gas, and exploration and extraction of other mineral deposits.

(1) Subject to subsection (2), the profits and gains from:

• (a) the exploration and production of petroleum including natural gas and from refineries set up at the Dhodak and Bobi fields;
• (b) the pipeline operations of exploration and production companies; or
• (c) the manufacture and sale of liquefied petroleum gas or compressed natural gas, and the tax payable thereon shall be computed in accordance with the rules in Part I of the Fifth Schedule.

(2) Sub-section (1) shall not apply to the profits and gains attributable to the production of petroleum including natural gas discovered before the 24th day of September, 1954

[Provided that the for tax year 2017 and onward the provisions of this sub-section shall not apply on profit and gains derived from sui gas field.]

(3) The profits and gains of any business which consists of, or includes, the exploration and extraction of such mineral deposits of a wasting nature (not being petroleum or natural gas) as may be specified in this behalf by the  [Board with the approval of the Minister-in-charge] carried on by a person in Pakistan shall be computed in accordance with the rules in Part II of the Fifth Schedule.