FBR Names 988 Projects for Tax Amnesty
A list of 988 projects registered with the Federal Board of Revenue (FBR) to benefit from the tax amnesty programme under the Prime Minister’s incentive package for the construction sector has been made public.
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The names and complete addresses of the 988 people, businesses, and corporations registered under Section 100D of the Income Tax Law, 2001 under the aforementioned scheme have been published by the FBR.
These 355 billion rupee construction projects have thus far been registered with the FBR. The FBR has not, however, provided information regarding the projects’ costs or the sum invested in them as part of the amnesty programme.
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According to the list of the 988 projects, the projects that have been registered are from various cities, including Karachi, Lahore, Faisalabad, Rawalpindi, Islamabad, Multan, Bahawalpur, Peshawar, Gujrat, Sialkot, Sahiwal, Rahim Yar Khan, and Gwadar.
According to the FBR’s list, practically all of the nation’s leading developers and builders have registered with the FBR in accordance with section 100D of the Income Tax Law, 2001 and taken advantage of the amnesty programme.
When a person makes capital investments in qualifying new projects, the rules of Section 111 are no longer applicable. These investments must be made from equity sources alone and cannot be done with borrowed money.
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