National Board of Revenue has extended the tax exemption for renewable energy-based power plants to 15 years, as detailed in an SRO issued on November 27. Investors will enjoy a full tax exemption for the first 10 years of operation, followed by a 50% exemption for the next three years and a 25% exemption for the subsequent two years. The benefits are available to power plants commencing commercial production between July 1, 2025, and June 30, 2035, provided investors secure a no-objection certificate from the power division.
In a separate SRO, the NBR announced exemptions on excise duty for air tickets, VAT on embarkation fees, and passenger safety and airport security fees for Hajj travelers to Saudi Arabia in 2025. This measure aims to alleviate the financial burden of rising air travel costs for pilgrims. Both SROs were signed by NBR Chairman Abdur Rahman Khan.
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