As many as 1,083 projects worth Rs340 billion have been registered with the Federal Board of Revenue (FBR) along with another 292 tentative projects with an indicative investment of Rs43bn under the prime minister’s package for the construction industry.
About 3,851 buyers had shown interest in purchasing properties by availing tax incentives for the construction sector till May 6.
The builders and developers are required to get registered on computer-based IRIS software of the FBR on or before June 30 this year and the projects should be completed before Sept 30, 2023.
Prime Minister Imran Khan had announced the package for the construction industry in April 2019. The amnesty scheme that had been offered till December 2020 was later extended for another six months to facilitate those intending to invest their untaxed money in the construction projects.