The proposal of construction tax exemption on C-Pack project was rejected, the construction department of the finance department refused to make it tax-free, consideration was given to reduce the tax rate.
Construction tax in the national treasury of Punjab generates revenue in crores of rupees from the construction tax, but in the current government, the PTI government ignores the national resources in order to further expand and facilitate the construction sector. Has provided facilities to construction companies.
Under C-Pack, most of the projects were exempted from Chinese construction companies and other construction companies, which could affect the provincial output. Sources said that the energy department has also proposed tax exemption for the 700 MW hydropower project. The contract for the construction of the 700 MW project has also been awarded to a Chinese construction company and the construction company has completed the project this year. Construction will begin regularly.
On the other hand, the Punjab Chief Minister made the matter conditional on the approval of the Cabinet Committee for granting tax exemption on ongoing projects under C-Pack, on which the Cabinet rejected the proposal.
Extracted from City42 News