It is a good measure to remove the holding tax and statement conditions from the IT industry, said Federal Minister for Information Technology and Telecommunications Syed Amin-Ul-Haque. “The removal of Capital gains tax from those who invest in the IT sector may be beneficial but these measures are insufficient,” he said. Commenting on the announcement made by the Finance Minister Miftah Ismail in Parliament on Friday, Haque said that, in order to boost the IT sector and maximise the value of foreign exchange, it is necessary to take early decisions on all the proposals that the IT Ministry has sent to the Finance Department. Firstly, it is important to ensure the implementation of these declarations and issue a clear directive to the Federal Board of Revenue (FBR), so that there is no ambiguity, said the IT minister.
Published in The Express Tribune, June 25th, 2022.
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