Tuesday , September 22 2020
Breaking News
Home / Breaking News / FBR announces zero percent ST on services for construction industry
FBR announces zero percent ST on services for construction industry

FBR announces zero percent ST on services for construction industry

ISLAMABAD: Federal Board of Revenue (FBR) on Monday notified sales tax on service at zero percent for construction industry as part of incentives announced by the prime minister for construction sector.

The FBR issued SRO 326(I)/2020 to amend Islamabad Capital Territory (Tax Services) Ordinance 2001, to reduce the sales tax on services at zero percent from five percent.

The FBR said that services provided by property developers and promoters (including allied services) relating to low-cost housing schemes sponsored or approved by Naya Pakistan Housing and Development Authority or under Government’s Ehsaas program, the rate of tax shall be zero percent subject to the condition that no input tax adjustment or refund shall be admissible.