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Construction Sector Package announced by Prime Minister Imran Khan

Construction Sector Package announced by Prime Minister Imran Khan

Salient features of Construction Sector Package announced by Prime Minister

No questions asked on source of income for people who will be investing in reals estate till Jun’20.

Introduciton of fixed Tax Regime for builder and developers. Tax shall be calculated based on the basis of per sq. foot construction and per sq. yard land development for builder and developers.

Tax rates to be reduced by 90% in case of low cost housing or projects developed under Naya Pakistan Housing
Builders and developers not required to withhold tax on purchase of building material except for cement and steel

Sales tax on construction services to be reduced to 2% in KPK and Punjab

Sales of house by family will have no capital gains tax

PkR30bn subsidy for Naya Pakistan Housing Scheme

Construction sector to have the status of an industry

Construction industry Development Board to be set up.
1). Fixed tax for construction projects
2). 90% less tax on low cost housing
3). Declare wealth of on going construction projects till June 2022 without any questions.
4). Reduction in CGT
5). WHT tax removal except cements and steel
6). Fixed provinacial tax on construction
7). Expemption of tax on first sale of developed property
8). Approval of projects in 45 days
9). Allow high rise in Karachi and Lahore with immifiate effect
10). Construction sector will be classified as industry
11). Financing for projects to be made available at 7%
12).new law to be established for law suits for developments.
13). Sales tax removal on construction materials
[7:43 PM, 4/3/2020] Usman bhai ‐ MRL: Salient features of Construction Sector Package announced by Prime Minister

No questions asked on source of income for people who will be investing in reals estate till Jun’20.

Introduciton of fixed Tax Regime for builder and developers. Tax shall be calculated based on the basis of per sq. foot construction and per sq. yard land development for builder and developers.

Tax rates to be reduced by 90% in case of low cost housing or projects developed under Naya Pakistan Housing
Builders and developers not required to withhold tax on purchase of building material except for cement and steel

Sales tax on construction services to be reduced to 2% in KPK and Punjab

Sales of house by family will have no capital gains tax

PkR30bn subsidy for Naya Pakistan Housing Scheme

Construction sector to have the status of an industry

Construction industry Development Board to be set up.
1). Fixed tax for construction projects
2). 90% less tax on low cost housing
3). Declare wealth of on going construction projects till June 2022 without any questions.
4). Reduction in CGT
5). WHT tax removal except cements and steel
6). Fixed provinacial tax on construction
7). Expemption of tax on first sale of developed property
8). Approval of projects in 45 days
9). Allow high rise in Karachi and Lahore with immifiate effect
10). Construction sector will be classified as industry
11). Financing for projects to be made available at 7%
12).new law to be established for law suits for developments.
13). Sales tax removal on construction materials

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