President Society Watch Khalid Mahmoud on Sunday said IT exports can be increased to three billion dollars per annum easily which requires some attention of the authorities. Currently documented exports stands at $500 million while undocumented exports have been estimated at 1.5 billion dollars that can be brought into tax net, it said.
Incoherent laws, ill-defined taxation issues, market access, human resource and infrastructure are some issue which are blocking development of this sector, he said.
In a statement issued here on Sunday Khalid Mehmood said that many companies are shifting their offices abroad due to absence of enabling environment and federal as well as provincial taxation issues which are confusing. He said that government should ensure proper environment for this sector and extent income tax exemption for next five years which will encourage this sector.
Promulgation of laws awaiting approval since long and problems in software registration continue to discourage IT programmers and companies to invest heavily in research and development. There are over three thousand IT companies and over one hundred thousand freelancers working in this sector that need encouragement which can earn foreign exchange.
He said that Indian official IT exports stands at 100 billion dollars due to government's backing therefore Pakistan should also do the same.
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