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Govt extends fixed tax regime for construction sector for a year

Govt extends fixed tax regime for construction sector for a year
December 31, 2020

ISLAMABAD (92 News) – The government has extended the fixed tax regime for the construction sector for a year.

Sources said that the government had also extended the deadline to disclose income sources for six months.

Addressing a meeting of the National Coordination Committee on Housing, Construction and Development on Thursday, the prime minister said that the banks had allocated a grant of Rs 3 billion for the construction sector. "We are computerizing the record of lands in Karachi and Lahore," he added.

He said that it was getting possible to purchase a low-cost house first time.

PM Imran Khan said that the construction projects worth Rs 163 billion had been launched in Punjab. "The government will give a grant of Rs 300,000 for 100,000 houses," he added.

He said that they were constructing 100,000 houses in the first phase. "Over 250,000 jobs will be created in Punjab. Banks will provide possible assistance for the low-cost houses," he maintained.