{"id":64768,"date":"2020-04-28T13:50:31","date_gmt":"2020-04-28T08:50:31","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=64768"},"modified":"2020-04-28T13:50:31","modified_gmt":"2020-04-28T08:50:31","slug":"fbr-slashes-sales-tax-for-property-developers","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-slashes-sales-tax-for-property-developers.html","title":{"rendered":"FBR slashes sales tax for property developers in Islamabad"},"content":{"rendered":"\n<p>Islamabad: The Federal Board of Revenue (FBR) on Monday notified its decision to exempt sales tax on the services provided by the city\u2019s property developers and promoters, according to news sources.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/fbr-to-issue-fresh-notifications-to-potential-taxpayers.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR to issue fresh notifications to potential taxpayers<\/a><\/p>\n\n\n\n<p>This initiative is aimed at providing relief in terms of sales tax for property developers and promoters, along with allied services providers to low-cost housing schemes, by slashing their sales taxes. As per the decision, the Naya Pakistan Housing Development Authority (NPHDA) or the government\u2019s Ehsaas Initiative will now fund and approve these schemes.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/fbr-monitor-real-estate-jewellery-transactions.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR to monitor real estate, jewellery transactions to curb terror financing under FATF regulations<\/a><\/p>\n\n\n\n<p>Reportedly, the individuals who choose to avail this exemption cannot then claim input tax refunds or adjustments later. This exemption of sales taxes on services will be notified by provinces to their respective departments.<\/p>\n\n\n\n<p>Amid the coronavirus pandemic, the federal government has formulated an amnesty scheme for the<a href=\"https:\/\/www.zameen.com\/news\/construction-relief-package-to-trigger-investment-pkr-60bn.html\" target=\"_blank\" rel=\"noreferrer noopener\"> construction sector<\/a>. Such relief measures have been taken in order to give the industry a boost and to create low-risk employment for daily wagers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) on Monday notified its decision to exempt sales tax on the services provided by the city\u2019s property developers and promoters, according to news sources. Read: FBR to issue fresh notifications to potential taxpayers This initiative is aimed at providing relief in terms of sales tax for property developers and promoters, along with allied services providers to low-cost housing schemes, by slashing their sales taxes. As per the decision, the Naya Pakistan Housing Development Authority (NPHDA) or the government\u2019s Ehsaas Initiative will now fund and approve these schemes. Read: FBR to monitor real estate, jewellery transactions to curb terror financing under FATF regulations Reportedly, the individuals who choose to avail this exemption cannot then claim input tax refunds or adjustments later. This exemption of sales taxes on services will be notified by provinces to their respective departments. Amid the coronavirus pandemic, the federal government has formulated an amnesty scheme for the construction sector. Such relief measures have been taken in order to give the industry a boost and to create low-risk employment for daily wagers.<\/p>\n","protected":false},"author":75,"featured_media":61403,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[27462,27463,27477,27478],"persona":[],"class_list":{"0":"post-64768","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-fbr-slashes-sales-tax-for-property-developers-in-islamabad","9":"tag-naya-pakistan-housing-development-authority-nphda","10":"tag-sales-tax-exemption","11":"tag-sales-tax-for-property-developers","12":"cat-15015-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FBR slashes sales tax for property developers - Zameen News<\/title>\n<meta name=\"description\" content=\"Federal Board of Revenue (FBR) on Monday notified to exempt sales tax on the services provided by the Islamabad\u2019s property developers and promoters\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/fbr-slashes-sales-tax-for-property-developers.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR slashes sales tax for property developers - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Federal Board of Revenue (FBR) on Monday notified to exempt sales tax on the services provided by the Islamabad\u2019s property developers and promoters\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-slashes-sales-tax-for-property-developers.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2020-04-28T08:50:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/02\/FBR.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Hazafa Hasan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Hazafa Hasan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FBR slashes sales tax for property developers - Zameen News","description":"Federal Board of Revenue (FBR) on Monday notified to exempt sales tax on the services provided by the Islamabad\u2019s property developers and promoters","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/news\/fbr-slashes-sales-tax-for-property-developers.html","og_locale":"en_US","og_type":"article","og_title":"FBR slashes sales tax for property developers - Zameen News","og_description":"Federal Board of Revenue (FBR) on Monday notified to exempt sales tax on the services provided by the Islamabad\u2019s property developers and promoters","og_url":"https:\/\/www.zameen.com\/news\/fbr-slashes-sales-tax-for-property-developers.html","og_site_name":"Pakistan Real Estate News &amp; 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