Relief for real estate amid the pandemic
Lahore, 3rd April: PM, Imran Khan has announced incentives for real estate owners and builders belonging to the construction sector.
Following are the leverages announced by the PM today, keeping in view the current economic crisis due to the pandemic:
1. No question will be asked about investment in construction sector this year
2. There will be a fixed Tax Regime for the construction sector
3. 90 percent fixed Tax will be waived off if invested in Naya Pakistan Housing Scheme
4. All With Holding Taxes will be waived off
5. Federal Government will discuss with Provinces regarding sales tax reduction. Punjab and KPK have reduced sales tax to 2 percent
6. No Capital Gain Tax will be charged in case of Family house sell
7. There will be Rs 30 billion subsidies for Naya Pakistan Housing Scheme
8. Status of Industry to the Construction sector
9. Construction Industry Development Board will be established for the development of the Construction Industry
Stay tuned to Baaghi TV for more updates.
