Coal plants get 1 more year to meet tax exemption condition
Private companies operating coal-based power plants must go into commercial production by 30 June next year to get tax exemption for 15 years.
The government allowed one more year for the companies which could not start commercial production by the previous deadline of 30 June this year.
The Internal Resource Division under the Finance Ministry issued a statutory regulatory order (SRO) in this regard on 3 October.
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Besides, foreign employees working in these companies will get a three-year tax exemption.
Moreover, the companies will also enjoy tax exemption on interest on loans, royalties, technical know-how, technical assistance fees, and capital gain from share transfers from foreign partners.
Meanwhile, Elevated Expressway's foreign employees will also enjoy a three-year tax exemption.
The income of foreign employees working on the Elevated Expressways implemented through public-private partnership (PPP) through another SRO has also been exempted from tax till June 2026.
