Islamabad: Prime Minister (PM) Imran Khan on Monday (February 21) announced a zero-tax policy and other incentives for registered freelancers and IT experts, news sources reported. He said the decision was taken to explore the IT-related market and the potential of the youngsters and increase the financial inclusion of the youth.
The premier announced the policy during the launch ceremony of ‘E-Tijarat Portal’ – a freelance marketplace. He said the IT sector potential will reach USD 50 billion in exports in the coming years due to better policies of the government. He stated that the bulk of the country’s population is under the age of 30, implying the possibility of exploring various avenues of a knowledge-based economy. Furthermore, the Ministry of Information and Technology (MoIT) has announced a comprehensive programme for the country’s registered freelancers to get a sizable proportion of worldwide information technology-related projects. The package aims to expedite and simplify the opening of foreign currency bank accounts for registered freelancers, as well as to reduce tax rates and establish a free centralised VPN gateway service that will be whitelisted by Pakistan Telecommunication Authority to provide services to verified freelancers registered with Pakistan Software Export Board (PSEB).
The policy includes tax holidays for specific categories until 2030 with subsidised office spaces in Technology Zones and Parks across the country. In this regard, the government will initiate specific efforts to bring a considerable population under-documented economy formally.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
