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FBR to submit report over tax exemption issue

FBR to submit report over tax exemption issue

ISLAMABAD: The federal government has asked the Federal Board of Revenue (FBR) regarding the implementation of tax exemption for raising funds worth Rs 20 billion for Diamer-Bhasha Dam.

Sources told Customs Today that Economic Coordination Committee (ECC) has directed the Water and Power Development Authority (WAPDA) to raise funds for Diamer-Bhasha Dam and also directed the FBR to revise the Income Tax Ordinance of tax exemption for Rs 20 billion fund collected by WAPDA in shape of Term Finance Certificates (TFCs).

Sources further told Customs Today that ECC has also accepted the summery sent by the Ministry of Water and Power regarding the funds transfer of Rs 10 billion for Neelum Jhelum Hydropower Project (NJHEP).

Finance Minister Ishaq Dar has directed the ministry to submit a complete report on the issue of tax exemption for Diamer-Bhasha Dam project.