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FBR grants tax exemption to welfare trusts, charity institutions

FBR grants tax exemption to welfare trusts, charity institutions

ISLAMABAD: Federal Board of Revenue (FBR) exempted dozens of welfare trusts and charity institutions from income tax, it is learnt here.

According to official sources, the FBR given income tax exemption to dozens of welfare and charity institutions including Imran Khan’s Shoukat Khanum Memorial Trust, Shareef Trust belongs to ex-prime minister Nawaz Shareef,  Khyber PakhtunKhawa Pension Funds, KP General Provident Investment Fund, KP Retirement Benefits and Death Compensation Fund, Pakistan Bar Council, Pakistan Sweet Homes, Sindh Institute of Urology and Transplantation, SIUT Trust and Society for Welfare, The Kidney  Centre Post Graduate Institution, Pakistan Disabled Foundation, SAARC Energy Centre, The Third Pakistan International SUkuk Company Limited, Pakistan Centre for Full Therapy, Al-Shifa Eye Trust, Saylani Welfare International Trust, Forman Christian College and LRBT etc.

Sources also said that in this regard, the board has amended Schedule Second part one and also inducted new clauses in the same schedule in the Finance Bill 2018 which is enforced from July 1, 2018.

It is important to mention here that Shoukat Khanum Memorial Trust and Shareef Trust are founded by two political figure of Pakistan PTI chairman Imran Khan and former prime minister Nawaz Sharif respectively.