June 29, 2016
News
Govt grants three-year tax exemptions to IT sector
Anusha says decision will enhance volume of IT exports, employment opportunities
By: APPISLAMABAD: Minister of State for Information and Technology (IT) Anusha Rehman has said that the government has granted a three years further extension to tax exemptions for boosting information technology sector.
While chairing the 33rd Board meeting of Pakistan Software Export Board (PSEB), she said that this decision is expected to enhance the volume of IT exports, increase employment opportunities and play a significant role in the growth of IT industry.
The board meeting was convened to assess the condition of IT industry of Pakistan and to evaluate steps being taken by PSEB to bolster the long term growth of the IT industry as well as its exports.
She said that tax on domestic revenues will also be reduced from July of this year and there will be no sales tax on desktops and laptops either. She hoped that the IT industry would reciprocate to these tax incentives by remitting all their income to Pakistan to reflect the real growth and potential of the industry.
P@SHA Chairman Syed Ahmed appreciated the tax incentives announced by the government and thanked the minister for supporting the industry's cause on tax exemption. The board was informed that a feasibility study for a new IT park on PSEB's land in Islamabad, being conducted by Korean consultants, is near its completion and the final feasibility report will be submitted by mid of July.
The minister directed PSEB’s Managing Director Asim Shahryar Hussain to have a close liaison with the Korean team for early finalisation and submission of the feasibility study so that a ceremony could be scheduled at the earliest The board was also updated on CMMI and ISO training and certification program by PSEB’s managing director. The board was informed that under the programme, nine companies will be trained and certified in CMMI and eight companies each will be trained and certified in ISO 27001and ISO 20000 standards during 2016-17.
Anusha said that these international certifications will improve the quality of processes, products and services of IT companies and will solidify their credibility with their foreign customers and will also help them to generate new business opportunities as well. She directed the PSEB’s managing director to collaborate with the P@SHA’s chairman to plan a launch ceremony for CMMI and ISO trainings and certifications. Representatives from Ministry of Finance and TDAP were also present in the meeting.
Courtesy www.dailytimes.com.pk