News

Budget 2016-17 Roundup: Government may exempt taxes for laptops imports and export of IT services and products

The Federal Budget for 2016-17 may have brought some bad news for mobile phone-enthusiasts with an increase in sales tax but it has also proposed some great policies for exempting taxes for a number of Technology services.

Regarding laptops, Ishaq Dar announced yesterday that the sales tax on import of all laptops may be exempted. This move would be hugely beneficial to facilitate the growth of the budding, yet nascent, Information Technology sector of Pakistan. The government has already been actively working to provide free laptops to students under the PM Laptop Scheme and this step will allow even morePakistanis to have access to a laptop.

Ishaq Dar also proposed an extension in the tax exemption for export of IT services and products until June 2019. However, do note that all IT companies taking relaxation through this exemption will have to remit 80% of their revenues through banking channels to Pakistan whilst keeping 20% of the revenues outside of country for their financial needs.

Sponsored
Rehan Ahmed

I cover startups, review gadgets and talk about latest developments in the technology industry. Get in touch through rehan@techjuice.pk.

Leave a Comment
Share
Published by
Rehan Ahmed

Recent Posts

Microsoft Launches AI-Powered “Support Virtual Agent” for Xbox Users

Microsoft has launched its AI-powered “Support Virtual Agent” chatbot for Xbox Insiders in the U.S.,…

8 hours ago

Musk Says Tesla Won’t Enter Smartphone Market Unless Necessary

Android Authority recently polled its users to find out if they would purchase a Tesla…

8 hours ago

Sukkur IBA Sets Seven Conditions for Conducting MDCAT

The Secretary of the Sukkur IBA Testing Agency has formally requested urgent action from the…

9 hours ago

PSEB Opens Bidding for Nationwide e-Rozgar Centers

The Pakistan Software Export Board (PSEB) has launched a nationwide program to encourage IT startups…

9 hours ago

Google Play Services Bug Disrupts Access to Apps for Pixel Users: Here’s How to Fix It

A significant issue with Google Play Services has left many Pixel users unable to access…

9 hours ago

WhatsApp Beta Partners with Google for Innovative Image Search Feature

When it comes to Android messaging apps, WhatsApp stands out as one of the best.…

10 hours ago