Investors to be given tax holiday for 5 years
ISLAMABAD: Federal Minister for Finance, Dr. Abdul Hafeez Shaikh on Saturday said five-years tax exemptions would be given for those investors who would set up an industrial unit from their own resources.
The Minister stated this while addressing a post-budget press conference here Saturday.
He said the incentive would be provided to those investors who will invest their own capital for building a factory or unit.
The incentive would help to tackle the increasing unemployment in the country besides reducing the recruitment burden on government institutions.
To create more job opportunities and enhancing growth in the country, the government would provide incentives for all other sectors including stock market, financial sector and business community, he added.
It was alarming that only 1.5 million people were depositing their taxes and filling their tax returns out of the 180 million population adding that more areas and people are being identified for revenue generations and reducing foreign dependance, he added.
Copyright APP (Associated Press of Pakistan), 2011
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