IT Sector Urges Govt to Slash Taxes on Items That ‘Hardly’ Classify as Luxury Goods

The IT and Telecommunication sector has urged the government to reduce taxes on items that hardly fall under the purview of luxury goods.

The delegation briefed the Finance Minister on the contribution of the IT sector to the economic development of Pakistan. It was shared that currently, the IT and Telecommunication sector is facing various issues, including serious challenges to profitability.

In the same view, the delegation requested for reduction in taxation on items that hardly fall under the purview of luxury goods. It was also shared that the growth of IT and telecommunications not only contributes to increasing the exports but also to the overall growth of GDP.

The Finance Minister acknowledged the role of IT and Telecommunication in the overall economic development of the country. Moreover, the Finance Minister assured the delegation of all possible support regarding taxation issues and emphasized making a greater contribution to the enhancement of IT and Telecom-related exports.

The delegation thanked the Finance Minister for his support and cooperation.

Federal Minister for Finance and Revenue, Miftah Ismail, held a meeting with a delegation of the telecom sector comprising CEO Jazz, Aamir Ibrahim, and CEO Telenor Pakistan, Irfan Wahab Khan, at the Finance Division today. Federal Minister for IT and Telecommunication Syed Amin-ul-Haq, Chairman PTA, Chairman FBR, and other senior officers attended the meeting.