Government of Pakistan and Federal Board of Revenue have decided to bring builders and developers in net tax, main purpose is to widen the tax base.
According to details Government and FBR decided to bring a uniform and fixed rate tax system for builders and developers.All arrangements are done in this regard and FBR will share this bill with stakeholders soon.
The Ministry of Finance and the Federal Board of Revenue prepared draft under which tax concessions will be given to those builders and developers intending to invest in low cost housing project of government.
They will have to register with the FBR to benefit from the tax concession scheme.
Chairman Federal Board of Revenue (FBR) Syed Shabbar Zaidi had announced that “a taxpayers’ friendly, easy, simple and effective audit framework” will be launched in the first week of the next month.
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