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FBR amnesty

Ordinance notified to extend tax amnesty for construction sector

ISLAMABAD: Federal Board of Revenue (FBR) on Friday notified changes made through presidential ordinance to tax amnesty scheme available to developers and builders.

The Presidential Ordinance has been promulgated on January 19, 2021, which is called as the Income Tax (Amendment) Ordinance, 2021 and it has been enforced from January 01, 2021.

Through the ordinance amendments have been made to Income Tax Ordinance, 2001.

According to this, amendment has been made to Section 100D of Income Tax Ordinance, 2001, the completion of project for availing amnesty on invested amount has been extended to September 30, 2023 from September 30, 2022.

The date has also been extended for the amnesty on investment made in a housing project up to June 30, 2021 from the date of December 31, 2020.