All
 

 

Just in:  

You are here: Home»Taxation»Pakistan»Finance Act 2013: builders, land developers rope into 'Minimum Tax' regime

Finance Act 2013: builders, land developers rope into 'Minimum Tax' regime

Builders and land developers have been roped into the 'Minimum Tax' regime in the Finance Act 2013. The Bill placed in the National Assembly by Federal Finance Minister Ishaq Dar levies a minimum tax at the rate of Rs 25 per square foot as per construction or site plan on builders. And Rs 50 per square yard on development and sale of residential, commercial or other plots in accordance with the layout or site plan approved by the regulatory authority.

According to tax experts the actual construction is normally different from the approved plan since building bye-laws are stringent and builders/constructors feel that their projects would be commercially unviable if constructed as per bye-laws. Shops are normally shown as parking area on the ground and mezzanine floor. Local governments are responsible for plan approvals and FBR has no connectivity with them.

Copyright Business Recorder, 2013



 



 
Index Closing Chg%
Arrow DJIA 16,408.54 0.10
Arrow Nasdaq 4,095.52 0.23
Arrow S&P 1,864.85 0.14
Arrow FTSE 6,625.25 0.62
Arrow DAX 9,409.71 0.99
Arrow CAC-40 4,431.81 0.59
Arrow Nikkei 14,516.27 0.68
Arrow H.Seng 22,760.24 0.28
Arrow Sensex 22,628.84 1.58





where to buy

cheap wedding dresses

online - weddingdresstrend.com

Buy cheap Nike Mercurials cleats at mercurialscleats.com
cheap wedding dresses on SiteSteer.com - Best Online Wedding Store


Banking Review 2013


Buy direct from

China free shipping trade platform

Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln