As part of the Prime Minister’s construction Relief package, roughly 2,125 projects were registered worth Rs. 493 billion. This was stated by Federal Board of Revenue’s Policy Wing.
The policy wing gave a detailed presentation to Chairman FBR Dr. Muhammad Ashfaq Ahmed on the progress of the construction assistance package for the Prime Minister.
The Chairperson was informed that, to date, 1,321 people have been registered online through the FBR system for 2,125 projects. Of these registered projects, 1,775 are new projects and 350 are existing projects. The declared investments in registered projects amount to 493 billion rubles.
The Prime Minister’s Construction Package was put into effect by the Tax (Amendment) Act 2020 on April 19, 2020. Significant features of the package include a flat tax for builders and developers, immunity from investigation, and exemption from tax withholdings.
FBR provided all the necessary services to the package beneficiaries, including creating a custom website, handling email requests, and a step-by-step online guide for builders and developers.
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