RECAPPING FBR’S AMNESTY SCHEME

The Federal Board of Revenue (FBR)’s amnesty scheme – also known as the construction industry relief package – was unveiled in 2021. The scheme that assisted builders, developers and buyers immensely is approaching its final days. The potential investors thinking about availing this lucrative offer have to hurry before the time runs out.

To help you get the best benefit from this scheme, we have lined up a few of our top vertical projects – which are FBR-registered and are masterminded by celebrated developers. Let’s first quickly have a look at how the scheme helps give a massive boost to the construction industry. 

RECAPPING FBR’S AMNESTY SCHEME 

Under the scheme, the builders, rent management investors and property owners can avail the following relief measures:

• Sources of investment in the construction sector not to be investigated
• Fixed tax regime; tax to be paid in quarterly instalments
• Easy and simple tax registration
• Exemption of income tax and capital gain tax for builders and developers
• One-time tax exemption on capital gains when selling private accommodation up to 500 square yards (house) or 4000 sq. ft. (apartment)
• Fixed deadline for completion of the registered project
• Exemption from withholding tax on building materials and services (excluding cement and steel)

The FBR’s amnesty scheme that moved billions worth of investment to the construction industry is to expire on March 31, 2023, with no extension announced. This is the last chance for investors to secure an ace property asset without having to disclose their investment sources.

SITARA SERENE TOWER

A project of the veteran Sitara Heights Pvt Ltd, Sitara Serene Heights offers a glamorous structure that encompasses lucrative hotel apartments and service apartments with a 10% guaranteed rental yield. The project enjoys a superb location in the immediate vicinity of the Central Business District (CBD) in Gulberg 3.

GULBERG CITY CENTRE

A landmark development on Main Boulevard Gulberg presents an irresistible inventory of commercial outlets, hotel apartments and furnished serviced apartments. With a mix of first-rate amenities, this development is one of the tallest five-star hotel buildings in the city. The investors of the project’s hotel suites are treated with 10% guaranteed rental yield for 10 years.