ISLAMABAD: Cellular Mobile Companies said to have sought a reduction in withholding tax on essential telecom services to eight percent as it is important for digital Pakistan.

During a meeting with the Federal Minister for Finance and Revenue, Miftah Ismail, on Wednesday, a delegation of the telecom sector comprising CEO-Jazz, Aamir Ibrahim, and CEO Telenor Pakistan Irfan Wahab Khan said to have requested the Finance Ministry in this regard.

Federal Minister for IT and Telecommunication Syed Aminul Haq, Chairman PTA, Chairman Federal Board of Revenue (FBR), and other senior officers also attended the meeting.

The delegation briefed the finance minister on the contribution of the IT sector in the economic development of Pakistan. It was shared that currently, the IT and Telecommunication sector is facing various issues including a serious challenge of profitability.

PM seeks plan aimed at boosting IT&T exports

In same view, the delegation requested for reduction in taxation over the items that hardly fall under the purview of luxury goods. It was also shared that the growth of IT and Telecommunication not only contributes to increasing the exports but also to the overall growth of GDP.

The finance minister acknowledged the role of IT and Telecommunication in the overall economic development of the country.

Moreover, the finance minister assured the delegation of all possible support regarding taxation issues and emphasized to make greater contribution in the enhancement of IT and Telecom-related exports. The delegation thanked the finance minister for support and cooperation.

Copyright Business Recorder, 2022