Finance Minister Confirms Tax Relief for Telecom Users

Today, during the news conference, an aid package to the telecommunications industry was ratified, and Minister Tarin reassured that sector taxation in the forthcoming budget will be decreased.

The Government is scheduled to announce in Budget2021-22 relief bundles, including the industry's status, to reduce advance income tax for mobile phone users between 12.5% and 10% to 8% in 2022-23, federal excise tax 17% to 16%, to abolish rs. 250 for SMS cards and to reduce telecommunications services tax.

Today, IT and telecommunications grow at 48 percent, and in 10 years, Pakistan may go much more. India had one billion dollars in IT exports in 2001, up to one hundred billion dollars in 2010. In ten years, he remarked, Pakistan can attain at least 40% growth.

The Minister said that the IT industry will receive incentives for exports and employment development.