Islamabad, January 26, 2021 (PPI-OT): Federal Minister for IT and Telecommunication Syed Amin Ul Haque has appreciated Federal Board of Revenue’s recent initiative of adopting definition of IT/ITES Sector as defining the scope for an IT Company or ITES Company in tax regime was need of the hour. This positive news has a great value for Sector which has posted 40% growth rate in IT Exports Remittances during July-December for current Financial Year amounting USD 958 million, in comparison to remittances of USD 684 million posted for first half of last financial year.
Ministry of IT and Telecommunication has been raising this concern with FBR in the past, and inclusion of subject definition is a welcoming step for the sector. In these difficult economic times when whole globe is facing crisis due to COVID-19’s unprecedented impact on global economics, Pakistan’s IT growth is on positive trajectory surpassing every traditional sector’s growth figures contributing immensely in bringing Pakistan on the growth path.
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