AJK Govt Announces Special IT Sector Package, Removing Income Taxes

The government of Azad Jammu and Kashmir (AJK) has announced a package for the IT sector and other industries. Azad Kashmir Prime Minister (PM) Sardar Tanveer Ilyas has said that it has been decided to make the income tax zero for the IT sector.

Speaking to ProPakistani, the AJK PM said his government will provide free plots and buildings for the IT industry, while companies in the IT sector that will export up to 20 percent will get tax exemptions and incentives.

The AJK PM said that an IT Excellence Center has been established at Rawalkot in Azad Kashmir, while an IT Excellence Center is also being established in the capital Muzaffarabad. Muzaffarabad’s IT Excellence Center will become operational in a month.

Sardar Tanveer Ilyas said that the AJK government has decided to give electricity to the industry at Rs. 3 per unit cheaper rates. He said that in Azad Kashmir, the sales tax has been halved and the withholding tax has been reduced, while the tax on electric vehicles has been reduced to zero, while the tax on hybrid vehicles has been reduced to 12 percent.

The number of tax filers in Azad Kashmir has increased from 5,000 to 37,000. The measures taken by the government of Azad Kashmir are aimed at providing a favorable environment for the industry so that it expands and more people get employment opportunities, he added.