ISLAMABAD
Chairman of the Constructors Association of Pakistan (CAP) Engineer Syed Ashfaq Hussain on Wednesday urged the government to review taxes on the construction industry in consultation with stakeholders and withdraw tax on deemed income on immovable property. The CAP chairman, during a visit to the Islamabad Chamber of Commerce and Industry (ICCI) along with a delegation, claimed that the industry was facing problems due to “high taxes”.
Ashfaq Hussain said besides reconsidering taxes, the government should offer more attractive incentives to the construction industry to boost foreign investment in the country.
Acting ICCI President Engineer Azhar ul Islam Zafar said that the construction industry played a key role in the economic development of the country as the business activities of around 70 allied industries were associated with the sector. The cut in taxes on the construction could attract investment of billions of dollars to the country, he added.
