The President has issued Income Tax Amendment Ordinance 2022 for industrial development
Under the ordinance, a package has been given to revive the ailing industries. Overseas Pakistanis, Pakistanis with overseas assets will be able to invest. The text of the ordinance
The President has issued Income Tax Amendment Ordinance 2022 for industrial development. Under the ordinance, a package has been given to revive the ailing industries.
Overseas Pakistanis, Pakistanis with assets abroad will be able to invest. According to private Channel, ''President Dr. Arif Alvi has issued Income Tax Amendment Ordinance 2022 for industrial development.''
''The purpose of the ordinance is to promote investment and industry in the country.'' Under the ordinance, a package has been provided to revive the loss-making and ailing industries. Added For the establishment of new industries, investors will have to pay only 5% fixed tax on the declared assets.
The ordinance states that the indicated funds can only be used for purchase of plant and machinery, establishment of industry, tax incentives of sick industry can be adjusted for next three years to encourage, overseas Pakistanis, Pakistanis with overseas assets.
Will be able to invest. Similarly, Prime Minister Imran Khan yesterday invited other Pakistanis to invest in the country's industries and announced a five-year tax exemption, saying that whatever governments came in the past did not know the direction of the country.
There should be and we continue to walk on different paths, there is no respect in the world for those who ask for help and loans, when a country spreads its arms and someone gives us help then it has to change its foreign policy, against its own interests. Others have to take part in wars.
Addressing the function held on the occasion of Industrial Package, he said that immense obstacles were put in the way of development of small and medium industries in our country but now by removing them we are giving incentives and facilities, also incentives to IT industry.
Pakistan will rise faster than this. No country can develop by selling wheat and vegetables. We did not think of increasing our exports. We should have given amnesty directly to the industries. Announcing the privileges and facilities today, we should have done that on the first day.