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Tax exemptions announced for Information Technology sector in new Budget 2016-17

Islamabad, June 04, 2016 (PPI-OT):In the budget proposals for Federal Government Budget 2015-2016, Federal government has proposed extension in tax exemption on export of IT services till June 2019 as well as sales tax exemption on computers and laptops. Ministry of IT had conducted meet up sessions with the IT industry to get feedback from the industry.

Ministry of IT compiled a proposal for extending tax exemption on exports of IT services which was submitted to the Ministry of finance and FBR. In addition to tax exemption on exports, Ministry of IT had also proposed exemption of sales tax on computers including laptops and desktops to promote the growth of IT usage in the country. Ministry of IT took up these proposals with Ministry of Finance and requested that IT industry is in an infancy stage when compared with some other countries in the region and its exports should be exempted from tax to ensure further sectoral growth.

Minister of State for Information Technology, Ms. Anusha Rehman said that once these proposals are approved by the National Assembly, it will work as a catalyst for further growth of Pakistan’s IT industry. Anusha Rahman hoped that once the budget is passed, the industry would reciprocate to these tax rebates by remitting more of their foreign income to Pakistan. Pakistan has tremendous IT talent and potential. However, this potential should also be reflected through growth in software export remittances also.

For more information, contact:
Haji Ahmed Malik
Principal Information Officer
Press Information Department (PID)
Tel: +92-51-9252323 and +92-51-9252324
Fax: +92-51-9252325 and +92-51-9252326
Email: piopid@gmail.com

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