The government is set to provide tax breaks worth around Rs25b to firms located in the United Arab Emirates (UAE) who invest in Pakistan. According to sources in the Federal Board of Revenue (FBR), work on tax exemptions has begun. Total tax exemptions are expected to range between Rs20 and Rs25b during a three to five-year timeframe. According to the sources, the government may offer tax breaks on imported machinery, imported parts, and income tax. The Emirati firms are anticipated to invest in a variety of industries, including healthcare, agriculture, and energy infrastructure. Aside from that, investments in digital communication, gas, and alternative energy resources might be made. The UAE government has declared that its public enterprises will spend $1b in Pakistan across many industries. The projected investment is intended to replenish Pakistan’s rapidly dwindling foreign reserves.
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