The Government has Given Tax Exemption on the Commencement of Construction on Vacant Plots.

  • 3 months ago
  • 1
Government Tax Exemption on the Vacant Plots: The government has given tax exemption on the commencement of construction on vacant plots.Government Tax Exemption on the Vacant Plots: The government has given tax exemption on the commencement of construction on vacant plots.

Government Tax Exemption on the Vacant Plots:

Government Tax Exemption on the Vacant Plots: The government has given tax exemption on the commencement of construction on vacant plots.
The meeting of the Senate Standing Committee on Finance was chaired by Senator Saleem Mandviwala, in which Finance Minister Muftah Ismail spoke on tax exemption on vacant plots.

 

Government Tax On Plots: Pakistan’s foreign exchange.

Finance Minister Muftah Ismail said that if construction is started on the vacant plot then no tax will be levied.

Muftah Ismail said that tax will not be levied till land acquisition and construction are allowed, tax will be levied on acquisition and non-commencement of construction.

The Finance Minister has agreed to the proposal to allow vacant plots for a specified period.

Muftah Ismail said companies would pay 2% tax on annual profits of Rs 300 million.

The committee recommended that more than Rs 300 crore should be taxed instead of income, in response to which Muftah Ismail said that it was all right but what should I do? Money is very much needed.

Replying to Muftah Ismail, former finance minister Shaukat Tareen said that there is weight in the matter, let Muftah Sahib cut another pocket, in response to which Muftah Ismail said that there are more pockets to be cut right now.

Former Finance Minister Shaukat Tareen said that 17% sales tax should be levied on jewelers and sales tax should also be levied on retailers.

The IMF program will be restored soon

Muftah Ismail said that next year the import of palm oil will be 5 6.5 billion, we do not have 6. 6.5 billion for the import of palm oil.

Shaukat Tareen said that 17% sales tax is being levied on edible oil, but no tax has been levied on cotton.

The IMF program will be restored soon
Finance Minister Muftah Ismail has said that the IMF program will be resumed in a day and a half. He has full hope for the resumption of the IMF program.

Muftah Ismail said that if there are rich people then they will be taxed.

The finance minister said that relief would be given to the poor, adding that the IMF had nothing to do with raising salaries.

He said that tax exemption would be maintained for those earning Rs. 12 lakh per annum.

Join The Discussion

Compare listings

Compare