Good news for all the Telcos operating in Pakistan!
The much-awaited relief packages for the Telecom sector might be finally making their way through. The Government of Pakistan earlier this year announced that there will be a tax cut for the telecom sector. More recently the Federal Minister of IT and Telecommunications, Syed Amin Ul Haq, confirmed the inclusion of relief packages in the budget 2021-22.
News for the IT Sector - Read more here.
Amongst other things, the packages will decrease the development personal expense on cell phone clients from 12.5% to 10%. Moreover, it is expected to decrease by another 2% making it 8% in 2022-2023. There is more to follow - the government extract obligation will decrease from 17% to 16%. The diminishing charges to fall from 8% to 3%. Moreover, the 250 rupees spent on SIM cards will also be annulled. In the same regard, guidelines have been issued to the Federal Board of Revenue (FBR) to reduce the duties from 7% to 5% and a drop of 3% on hardware material of the optical fiber link fabricating industry
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