ISLAMABAD - The total declared investment in registered projects of Prime Minister’s Relief Package for Construction Industry has reached Rs493 billion. 
Federal Board of Revenue’s Policy Wing gave a detailed briefing to the Chairman Federal Board of Revenue, Dr. Muhammad Ashfaq Ahmed about the progress made on the Prime Minister’s Relief Package for Construction Industry. Member IR Policy assisted by Chief IR Policy informed the chairman that so far 1321 persons have registered themselves through the online system of FBR in 2125 projects. Out of these registered projects, 1775 are new projects whereas 350 are existing projects. The total declared investment made in these registered projects comes to Rs. 493 Billion. 
PM’s Construction Package was introduced through Tax Laws (Amendment) Ordinance, 2020 on 19th April, 2020. The salient features of the package include fixed tax for builders and developers, immunity from probe and concessions from withholding of taxes. FBR has provided all the required facilitation to the beneficiaries of the package which include establishment of dedicated web page, a dedicated email to address inquiries and an online step by step guide for the builders and developers. Besides, a comprehensive set of FAQs for potential buyers and investors was developed which is available on FBR website. Moreover, wide publicity through media campaigns was also done to maximize the gains of this relief package. 
Chairman FBR directed that ease of doing business must be ensured to the registered projects under the PM’s Package for Construction Sector. He further desired that regular update on the progress be communicated through media on weekly basis. 
KP Finance Minister Calls on FBR Chairman
Khyber Pakhtunkhwa’s Minister for Finance Taimur Saleem Khan Jhagra called on Chairman Federal Board of Revenue Dr Muhammad Ashfaq Ahmed on Friday here at FBR HQ. Zafar Ali Shah, Senior Member Khyber Pakhtunkhwa Board of Revenue, and Anum Saeed, senior associate, also attended the meeting. 
During the meeting, the matters of mutual interest between FBR and KPRA were discussed. It was agreed in the meeting that both revenue collecting agencies would share data and information for realization of maximum revenue. FBR and KPRA would evolve meaningful mechanism on agriculture income/tax to maximize revenue potential. Both sides agreed to iron out differences pertaining to Sales Tax on services related to four important sectors including construction, restaurants, transport & communication and toll manufacturing. 
KP finance minister hoped that both FBR and KPRA would develop an enduring system to build close cooperation for the purpose of identifying potential taxpayers and increasing revenue. Chairman FBR reiterated his commitment to develop a close working relationship between FBR and KPRA. 
Meanwhile, Federal Board of Revenue (FBR) has decided to grant one-time opportunity to the taxpayers who paid their tax under the Assets Declaration Ordinance-2019 but somehow could not file their declarations. The Assets Declaration Ordinance, 2019 was promulgated on May 14th, 2019 for payment of tax and declaration of corresponding assets by June 30th, 2019. The due date was extended till July 3rd, 2019. 
Taking cognizance of the hardship caused and to facilitate the aggrieved citizen taxpayers, FBR has decided to allow filing of declarations for all those citizen taxpayers/persons who deposited tax under the Ordinance within the due date i.e. July 3rd, 2019 but could not file their declarations due to any reason. The system has been enabled for the purpose and all taxpayers can now file their declarations between September 10th, 2021 till September 25th, 2021. 
This is a special dispensation granted under Section 7 of the Federal Board of Revenue Act, 2007.