ECC Approves Tax Relief for Telecom Sector
To facilitate the telecom sector, the Economic Coordination Committee (ECC) of the cabinet approves a waiver of certain taxes. Adviser to the Prime Minister on Finance Dr. Abdul Hafeez Shaikh chaired the meeting in which the committee has decided that the proposal may be granted approval in principle.
ECC Approves Tax Relief for Telecom Sector
To prepare a modified proposal in view of the Federal Board of Revenue’s (FBR) response for final approval, ECC further directed that a subcommittee may be constituted, consisting of Adviser to the PM on Revenue, Adviser to PM on Institutional Reforms & Austerity, Minister for Industries & production and Adviser Commerce.
Technical Supplementary Grant of Rs.109.47 million to the Ministry of Defense has also been approved by ECC during the meeting. The amount will be used for the survey of the coastal areas and was surrendered by the Ministry of Maritime Affairs as the Pakistan Army has offered to assist in the survey.
The attendees of the meeting were Minister for Railways, SAPM on Petroleum, Adviser Commerce, Adviser to PM on Revenue and Adviser to PM on Institutional Reforms and Austerity.
The ECC also approved a proposal regarding necessary amendments and exemptions in the Income Tax Ordinance, Sales Tax Act and Customs Act for the Gwadar Port and Gwadar Free Zone, according to a statement issued by the Ministry of Finance.
Recommended Reading: Telecom Firms Urge Government For Income Tax Relaxation
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