Govt announces tax relief worth Rs18bn for affected sectors

LAHORE: The provincial government has allocated a tax relief package worth Rs18 billion for the sectors affected by the Coronavirus pandemic, informed Punjab Finance Minister Hashim Jawan Bakht.

invest with imarat

Islamabad’s emerging city centre

Learn More

The announced initiative includes exemption of General Sales Tax (GST) on services provided by the medical consultants and hospitals and tax on construction development services.

In addition to reducing the Capital Valuation Tax (CVT) and stamp duty taxes to 2% on property transactions, the provincial government has also suspended property and development tax from urban immovable property in order to boost activity in the real estate sector and generate employment.

Furthermore, to facilitate online businesses and Human Resource (HR) development-related services, zero GST on the service tax rate will be applied to cater the general public.   

The government has also planned to facilitate the sectors affected due to covid-19 in the next fiscal year by providing incentives for job creation and boost the economic activities, the minister further added.

For news and blogs, visit Graana.com. |

#covid19updates #ResilientPakistan

Maham Tahir

Recent Posts

Baghbanpura Bazar: A Historic Market in Lahore

Lahore, known as Pakistan's cultural and historic heart, is home to numerous ancient sites, bustling…

2 hours ago

Garha Mor: A Notable Landmark in Vehari City

Garha Mor, a notable landmark in Vehari, Punjab, Pakistan, is significant in its location, accessibility,…

1 day ago

Aslam Market Wah Cantt: Pleasure of Shopping & Dinning

Located in the center of Wah Cantt, Aslam Market is a vibrant commercial hub that…

2 days ago

Abid Market Lahore: An Iconic Shopping Landmark

Located in the bustling heart of Lahore, Abid Market is a landmark shopping area well…

3 days ago

CDA Chairman Urges Rapid Completion of Major Islamabad Interchanges

ISLAMABAD, Nov 16 (APP): The Chairman of the Capital Development Authority (CDA), Muhammad Ali Randhawa,…

3 days ago

IMARAT Announces Launch of Pakistan’s Largest Sharia-Compliant REIT – A New Era of Real Estate Investment

Islamabad, Pakistan— IMARAT Group, a leading real estate developer and innovator in Pakistan, announces the…

3 days ago