The Federal Board of Revenue yesterday said that a hundred and twenty-seven different projects had been registered with the tax department under Prime Minister Imran Khan’s Package for the Construction Sector, these projects are calculated to be worth Rs 63 billion.
A further 108 people are vying for registration of 114 projects at an estimated cost of 109 billion rupees.
The extensive list of construction projects contains 61 projects from Karachi, 44 projects from Lahore, and 30 from Islamabad, Faisalabad also registered 10 and the remaining projects come from other cities, with the deadline for registration being 31 December 2020.
An official announcement by the government said that the prime minister’s scheme was quickly picking up the pace and had received great attention from the construction industry.
Besides that, builders and developers falling under the scheme can avail the benefit of payment of fixed tax as delineated in the Income Tax Ordinance, 2001.
GVS News Desk