{"id":74743,"date":"2021-03-10T18:26:57","date_gmt":"2021-03-10T13:26:57","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=74743"},"modified":"2021-03-10T18:27:03","modified_gmt":"2021-03-10T13:27:03","slug":"govt-proposes-exemptions-for-developers-of-low-cost-projects","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/govt-proposes-exemptions-for-developers-of-low-cost-projects.html","title":{"rendered":"Govt proposes exemptions for developers of low-cost projects"},"content":{"rendered":"\n<p>Islamabad: The government has proposed several exemptions for realtors who can complete their low-cost housing projects before June 2024, a news source reported on March 9. These suggestions are part of the Income Tax (Amendment) Bill, 2021; recently tabled before the Senate by Finance Minister Dr Abdul Hafeez Shaikh.<\/p>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/www.zameen.com\/news\/multiple-banks-sign-low-cost-housing-finance-agreements-with-pmrc.html\" target=\"_blank\" rel=\"noreferrer noopener\">Multiple banks sign low-cost housing finance agreements with PMRC<\/a><\/p>\n\n\n\n<p>Other proposals include the streamlining of nonprofit organisations (NPOs), exemptions to hydropower IPPs and oil refineries who sign an agreement with the government before June 2021, and measures pertaining to borrowing from foreign multilateral organisations and countries.<\/p>\n\n\n\n<p>In all, the government has proposed 80 amendments in the Income Tax (Amendment) Bill, 2021. According to Dr Shaikh, the government intends to withdraw several exemptions for the corporate sector in a bid to generate additional revenue.<\/p>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/www.zameen.com\/news\/subsidies-offered-on-construction-of-low-cost-houses.html\" target=\"_blank\" rel=\"noreferrer noopener\">NPHA shares details on subsidies being offered on construction of low-cost houses<\/a><\/p>\n\n\n\n<p>Moreover, he stated that the federal cabinet has provided its approval to making the State Bank of Pakistan (SBP) an autonomous institution with its governor answerable to the parliament and other state institutions concerned.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The government has proposed several exemptions for realtors who can complete their low-cost housing projects before June 2024, a news source reported on March 9. These suggestions are part of the Income Tax (Amendment) Bill, 2021; recently tabled before the Senate by Finance Minister Dr Abdul Hafeez Shaikh. Read: Multiple banks sign low-cost housing finance agreements with PMRC Other proposals include the streamlining of nonprofit organisations (NPOs), exemptions to hydropower IPPs and oil refineries who sign an agreement with the government before June 2021, and measures pertaining to borrowing from foreign multilateral organisations and countries. In all, the government has proposed 80 amendments in the Income Tax (Amendment) Bill, 2021. According to Dr Shaikh, the government intends to withdraw several exemptions for the corporate sector in a bid to generate additional revenue. Read: NPHA shares details on subsidies being offered on construction of low-cost houses Moreover, he stated that the federal cabinet has provided its approval to making the State Bank of Pakistan (SBP) an autonomous institution with its governor answerable to the parliament and other state institutions concerned.<\/p>\n","protected":false},"author":67,"featured_media":52104,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15013,15016],"tags":[2534,6090],"persona":[],"class_list":{"0":"post-74743","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-construction","8":"category-new-developments","9":"tag-low-cost-housing","10":"tag-tax-exemption","11":"cat-15013-id","12":"cat-15016-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Govt proposes exemptions for developers of low-cost projects - Zameen News<\/title>\n<meta name=\"description\" content=\"The government has proposed several exemptions for realtors who can complete their low-cost housing projects before June 2024.\" \/>\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\/govt-proposes-exemptions-for-developers-of-low-cost-projects.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt proposes exemptions for developers of low-cost projects - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The government has proposed several exemptions for realtors who can complete their low-cost housing projects before June 2024.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/govt-proposes-exemptions-for-developers-of-low-cost-projects.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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