ISLAMABAD: The Federal Board of Revenue has exempted income tax on import of plant, machinery and equipment to be used in the construction of motorways.
According to a notification, the exemptions will also be applicable on dumpers and special purposes motor vehicles imported by two Chinese companies – M/s China State Construction Engineering Corporation Ltd and M/s China Communication Construction Company.
The machinery is being used for construction of Sukkur-Multan section of Karachi-Peshawar Motorway project and Karakorum Highway Phase-II of China Pakistan Economic Corridor, respectively.
