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The government announced tax cuts for the telecom industry

tax reduction

Because the telecommunications sector in Pakistan is classified as an “industry,” the federal government will offer tax deductions on mobile phone users in the sector.

According to a tweet from the Ministry of IT and Telecommunications, the federal cabinet accepted the request based on its recommendations. The ministry said taxes on the telecom industry and cell phone usage would gradually reduce.

“This is a significant achievement that will not only support mobile phone users but also help them grow. Digital Pakistan’s mission (Contact) for remote areas, ”said Saeed Aminul Haq, Federal Minister for Information Technology and Telecommunications.

Under the major growth, the government will reduce the advance tax on cell phone users from 12.5 percent to 10 percent starting in FY 2021-22 and then to 8% in FY 2022-23.

According to the Federal Minister for Information Technology, the Federal Excise Duty T (FED) on telecommunications services has been reduced from 17% to 16%.

According to Haq, the government plans to reduce excise duty by 6% and reduce taxes on many services. The fee of Rs 250 on SIM purchases has been removed, which will benefit the general public.

 

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