Tax exemption for motorway machinery

Tax exemption for motorway machinery

Tax exemption for motorway machinery ISLAMABAD: The Federal Board of Revenue has exempted income tax on import of plant, machinery and equipment used in the construction of motorways.

A notification issued on Friday said that the exemptions will also be applicable on dumpers and special purposes motor vehicles imported by two Chinese companies — M/s China State Construction Engineering Corporation Ltd and M/s China Communication Construction Company.

The machinery is being used for construction of Sukkur-Multan section of Karachi-Peshawar Motorway project and Karakorum Highway Phase-II of China Pakistan Economic Corridor, respectively.

Source: http://www.dawn.com/news/1278698/tax-exemption-for-motorway-machinery

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