OGDCL Notice: Withholding Tax Rates on Dividend Payments under Section 150 (Income Tax Ordinance 2001)

Issuer: Oil & Gas Development Company Limited (OGDCL).

Purpose: Informing shareholders of withholding tax treatment on dividend payments pursuant to Section 150 of the Income Tax Ordinance, 2001 and applicable procedures for applying appropriate tax rates.

Key points:

Additional information: Withholding will be applied in accordance with FBR instructions and the Active Taxpayers List (ATL). Shareholders should ensure their NTN and CDC participant/account details are correctly recorded with their CDC participant or the company registrar so that filer status can be verified. Holders of valid Tax Exemption Certificates must present them through the proper channels to obtain exemption where applicable. Dividend paying agents and bank/registrar will deduct tax at source as per the prescribed rates.

Procedural notes: Shareholders are advised to coordinate with their CDC participants or the company registrar to submit any required documentation (NTN, CDC particulars, tax exemption certificate) to ensure correct withholding treatment.