Continuation of investment friendly incentives such as 100% equity ownership allowed to foreign investors, 100% repatriation of capital and dividends, and tax holiday for venture capital funds till June 2024 would help the country’s IT industry to demonstrate positive growth trends.
Talking to APP, managing director Pakistan Software Export Board (PSEB) Syed Ali Abbas Hassani said, new incentives for IT industry would facilitate the IT sector to enhance the growth of the IT Industry in the country.
IT & ITeS export income tax exemption extended till June 2019, accelerating growth of export remittances by 150% during the current 5 years @ CAGR of 20%, as compared to 99% growth and 14.7% CAGR during the previous 5 years.
He said, income tax exemption to PSEB registered IT Startups for 3 years, with no minimum or withholding tax, incentivizing entrepreneurship and innovation in the country
Sharing the details of IT industry’s participation at International forum he said, Pakistan Software Export Board promoted the IT industry internationally by participating in 14 International exhibitions/ events along with 63 member companies in USA, Spain, Australia, China, UAE and Kenya
He said we have successfully organized 6 outbound trade delegations to USA, Canada, UK, Australia, China, and UAE along with 47 member companies and hosted 5 inbound delegations from Australia, Japan, Korea, Saudi Arabia, and Turkey.
Promoted the IT & ITeS industry worldwide by developing a comprehensive video documentary and marketing collateral and also upgraded Pakistan Software Export Board’s website to promote and project IT & ITeS industry with publicly accessible Company Directory, and highlight incentives provided by the government.—APP