As many as 1321 persons have registered themselves in 2125 registered projects, being executed under the Prime Minister’s Relief Package for Construction Industry, through the online system of the Federal Board of Revenue (FBR).
This was revealed on Friday, as the Policy Wing of FBR gave a detailed briefing to Chairman Federal Board of Revenue Dr. Mohammad Ashfaq Ahmed about the progress made on the PM’s package for the sector.
Member Inland Revenue (IR), Policy Wing, assisted by Chief IR Policy informed the Chairman that 1775 of the registered projects were new, whereas the rest of 350 projects were the existing ones. The total declared investment made in these registered projects comes to Rs. 493 billion.
The PM’s Construction Package was introduced through Tax Laws (Amendment) Ordinance, 2020 on 19th April 2020. The salient features of the package include a fixed tax for builders and developers, in addition to immunity from probes and concessions in the withholding of taxes.
FBR has provided all the required facilitation to the package beneficiaries which includes the development of a dedicated web page, creation of a dedicated email to address queries, and availability of an online step-by-step guide for the builders and developers. Besides, a comprehensive set of FAQs [Frequently Asked Questions] for potential buyers and investors was also developed and is available on the FBR website.
Moreover, wide publicity through media campaigns was also done to maximize the gains of this relief package.
The Chairman FBR directed that ease of doing business must be ensured for the registered projects, desiring that regular updates on the progress should be communicated through media on weekly basis.