The Ministry of Information Technology and Telecommunication has drafted the “National Freelancing Policy”, proposing the implementation of a reduced sales tax rate, not exceeding 2 percent against the local services revenue earned by the PSEB registered freelancers.
Sources told ProPakistani that the policy envisaged establishing Pakistan as a leading global freelance market and increasing exports and foreign exchange for the country.
As per the policy, PSEB, in collaboration with SBP, works to streamline inward foreign exchange remittances from freelancing activity using freelancing-defined codes by SBP that are subjected to income tax exemptions.
PSEB will work with SBP to allow foreign exchange bank account opening for registered freelancers.
SBP will allow retention of 35 percent of foreign exchange income received as an inward remittance in these foreign exchange business accounts of freelancers. PSEB to work with the Ministry of Finance (MoF) and FBR to ensure the foreign exchange export remittances received in freelancing codes will remain income tax exempted till 2030.
Visa facilitation will be given to freelancers with a record of a minimum of Two years of IT & ITeS export remittances exceeding US $5,000 per annum through formal banking channels.
Subsidized home loan schemes will be given to registered freelancers under the existing and future government and private initiatives, subject to providing a record of a minimum of 5 years of freelancing exports remittances of more than $12,000 per annum.
The business development stressed providing access to freelancers to international markets, projects, and clients and introducing a robust marketing strategy and promotional plan for freelancers.
As per the proposed policy, PSEB will provide registration for freelances for Rs. 1,000 and renewal for Rs. 3,500 per annum to access PSEB programs and initiatives, including free and subsidized training, certifications, subsidized office space at Software Technology Parks (STPs) across the country, and access to international marketing and matchmaking opportunities.
Moreover:
PSEB, in partnership with other public and private sector organizations, will launch new training and technology certification initiatives for registered freelancers. PSEB will create partnerships with multinational technology companies (Tech MNCs) for subsidizing the course materials and certifications, making such material available to the registered freelancers.