Last Updated on: 16th July 2023, 04:35 am
A tax relief plan for the telecommunications sector was confirmed at the press conference today and Minister Tarin assured that Govt Provides Large Tax Relief For the IT and Telecom Sector in the next budget.
Government Announces Telecommunications Sector Relief Measures in Budget 2021-22, including Industry Status, Cell Phone User Withholding Tax Reduced by 12.5% to 10% and Further Reduced to 8% in 2022-2023, Federal Excise Tax from 17% to 16%, Abolition from Rs. 250 on SIM cards and lowering the tax on telecommunications services from eight to three percent.
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The information technology and telecommunications sector are currently growing at 48%, and Pakistan can grow even faster in 10 years. India had $1 billion in IT exports in 2001, which rose to $100 billion in 2010.
Pakistan could grow at least 40 percent in 10 years, he added. The minister said that the IT sector will be incentivized for export growth and job creation.
