Islamabad: The Special Technology Zone Authority (STZA) on Wednesday (July 28) invited applications for Zone Enterprises at the Flagship Zone-Islamabad Technopolis-to establish specialised technology facilities, a news advertisement read.
The STZA is Pakistan’s first specialised technology-related autonomous body, formed to promote technology and capitalise on the benefits of technology-led exports, Research and Development, and Foreign Direct Investment (FDI). Under the STZA, software and information technology (IT) parks, business process outsourcing (BPO) complexes, R&D facilities and excellence centres for tech-driven enterprises will be developed around the country.
In the first phase, the STZA has only invited applications for Zone Enterprises in the Islamabad Technopolis including those zone enterprises who want to build their own specialised facilities.
In the second phase, the applications for the Zone Developers licences will be opened, the date of which will be announced soon. Furthermore, for the next ten years, the STZA has declared exceptional exemptions and tax holidays for prospective zone enterprises. Among the rewards are tax holidays on:
• Income tax
• Turnover taxes
• Capital gains taxes
• Sales Taxes
• Customs Duty on import of capital goods
• Dividend income and capital gains on venture capital funds
The facility has developed a One-Stop-Shop to simplify and streamline the procedure, as well as a Special Forex Regime and location incentives for applicants.
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.
