Construction Industry Amnesty Scheme 2020 in Pakistan-Read Everything in Urdu Language
Prime Minister Imran Khan has given a special package to construction sector in Pakistan. This package is just like a amnesty scheme for construction industry in country. Package has been announced for boosting the construction industry. Construction sector has been given the status of industry. There will be no withholding tax on building material will be received except cement and structural iron. For getting benefit from this scheme you will have to start a project before 31 December, 2020. On this page we are going to share all the information in Urdu about construction industry package 2020 in Pakistan.
Ordinance has been issued for implementation on this construction industry amnesty scheme 2020. Fax tax will be charged now on the basis of per square feet and per square meter. Withholding tax will also not be charged on providing services. Tax has been reduced to 90% on the construction of low expense houses under Naya Pakistan Housing scheme. For getting benefit from this scheme you will have to register a new or running project through IRIS web portal with federal board of revenue. You will not be answerable about the source of investment through this scheme. Scheme is just for current year 2020.
If you want to register a running project then you will have to provide information about the ratio of already constructed part and pay the tax for the remaining part. You can get benefit from this package for investment in land. You will have to complete the project before 30th September, 2020. Income should not be obtained from money laundering, terrorism and any criminal act. One time exemption on capital gain tax has also been announced. More details about construction industry package 2020 in Pakistan has been given below in Urdu language.
Construction Industry Package 2020 in Pakistan-Details in Urdu