The Tax Laws (Amendment) Ordinance, 2020 [the Amendment Ordinance] follows through on the Special Incentive Package announced by the Prime Minister in early April for revival of construction sector in backdrop of deterioration of macroeconomic indicators.
To promote and support the sector, Prime Minister had announced grant of industry status to the sector along with formation of Construction Industry Development Board. The construction industry and many allied sectors have also been exempted from lockdowns otherwise in force in the country to arrest Covid-19 pandemic. It is expected that the amendments made through the Amendment Ordinance will be incorporated through the upcoming Finance Bill, 2020.
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