Home / Business / SBP recommends reduction in tax ratio on providing loans for the construction of houses

SBP recommends reduction in tax ratio on providing loans for the construction of houses

ISLAMABAD: State Bank of Pakistan (SBP) has Recommended that tax ratio on house building loan be curtailed.

SBP has proposed to Federal Board of Revenue (FBIR) here on Saturday that the banks and financial instructions providing loans for construction of homes should reduce the tax on loans so that the policy of inexpensive residences could be made successful.
According to SBP, a person earning the income of Rs 50,000 per month should be provided the loan of minimum 1.40 million to buy or to construct a house while the collective cost of the constructed or purchased home should be Rs 2.5 million.
According to SBP construction of inexpensive houses will help to overcome the problems of residence facilities in the country.

About Parliament Times

Check Also

ICCI delegation returns after successful visit to Morocco and Qatar

Islamabad: A delegation of Islamabad Chamber of Commerce & Industry led by Senior Vice President …