The Federal Board of Revenue (FBR) has issued a clarification regarding the news about a proposal to withdraw exemption available to income from exports of computer software or IT services or IT enabled services.
FBR has clarified that under the current legal dispensation, the exports of computer software, IT Services or IT enabled services are exempt from tax as provided under clause (133) of Part-I of the Second Schedule to the Income Tax Ordinance, 2001.
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FBR said, “This exemption is subject to the condition that 80% of the export earnings are remitted to Pakistan through a normal banking channel. However, the persons claiming exemptions are subject to minimum tax on their turnover. There is a proposal to widen the scope of tax concessions available to income from the export of software, IT services and IT-enabled services. For this purpose, the exemption is being shifted to the tax credit regime.”
“It has been proposed that such income may be provided a hundred percent tax credit against tax liability including minimum tax liability on their turnover. The proposal enhances the scope of concession to the IT sector contrary to the news circulating in social media,” said the FBR.
i think fbr need a it certifications and understanding the dynamics NO idea how PTI will respond to this huge foolish act
Fbr chiller key pechey bhaag raha hai jab key Pakistani Freelancer
200 Million Dollar last six month mein REMITTANCE Pakistan laa chukey hai.
It industry ko Tax free kiye jana chiye
Pti is the name of all kind of idiots
Give IT software and services export 100% tax exemption. Allow them to open foreign currency account in Pakistan where they can deposit 50% the inflow and use it for further growth and their international purchases.
If you export software and bring back 80% of the money to Pakistan, you get 100% corporate tax exemption. What else people want? How much more can the government support?
یار یہ ایف بی آر والے آسان زبان میں کیوں نہیں بتاتے
الفاظ کا گورکھ دہندہ ہے
سمجھ نہیں آتی ٹیکس مانگ رہے ہیں یا سہولت دے رہے ہیں
ایکدم سے سب کو ڈرا کر رکھ دیا ہے
لوگوں کو ٹیکس دینے سے ڈر نہیں لگ رہا ہے بلکہ payoneer
چھن جانے سے ڈر لگ رہا ہے
جو کہ واحد راستہ ہے پیسے پاکستان لانے کا
FBR and the government should stop backstabbing the freelance community which is on the verge of growth. Shame on FBR for calling the Rs.60 billion Payoneer payment identification as a ‘scam’. You guys were sleeping, it’s not our fault. You should have made clear rules in Tax Ordinance about imposing tax on freelancing income. Stop making the system complex, make it simple. I’m a freelancer, and I’m willing to pay taxes on my freelancing income. But rather than taking initiative to encourage global payment partners like PayPal to commence operations in Pakistan, these FOOLS are actually pursing Payoneer, (the only company processing payments for Pakistan) making queries regarding payments made, that were hard-earned money of freelancers like myself. It’s not concealed income. We get it through proper banking channel and it is our right to earn a respectable earning from a lawful source which you guys are trying to cut the root.
Shame on FBR once again.
M.A. Urdu with the backing of ABU are hired in fbr. … what else on expect from these stooges
fully agree, if govt and fbr fools blow it like clerks we have no option but to leave the country and work from abroad
In Pakistan…
If you are earning from something
Govt will
First Complicate it.
Then Try to Stop it.
Finally Ban it.
Clear as mud