FBR issues clarification regarding date extension to incentive package for construction industry

ISLAMABAD: Federal Board of Revenue (FBR) issued clarification regarding extension to Prime Minister’s incentive package for construction industry.

The FBR said that immunity from disclosure of investment and fixed tax regime for builders and developers had been extended up to June 30, 2021 from December 31, 2020.

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Similarly those builder and developers who want to avail fixed tax regime the date has been extended to December 31, 2021 from December 31, 2020.

The FBR further clarified that for completion of projects the last date has been extended up to September 30, 2023 from September 30, 2022. Further, for the purchase of housing units and plots the last date has been extended up to March 30, 2023 from September 30, 2022.