Telenor and Jazz Seek Reduction in Withholding Tax

Since the new government has come into power, a hike in inflation has been observed. Different segments of the society have been affected adversely since this new wave of inflation has emerged. Parleys were held between the representatives of Cellular Mobile Companies (Telenor and Jazz) and the members of Finance Ministry  to discuss reduction in the withholding tax.

A delegation comprising the CEO-Jazz, Aamir Ibrahim, and CEO Telenor Pakistan Irfan Wahab Khan held the meeting with the Federal Minister for Finance and Revenue, Miftah Ismail. In the meeting it has been requested to reduce the withholding tax on essential telecom service to eight percent as it is important for digital Pakistan.

Other than the Finance and Revenue Federal Minister IT and Telecommunication Federal Minister Syed Amin-ul-Haq, Chairman PTA, Chairman Federal Board of Revenue (FBR), and other senior officers also attended the meeting.

A briefing was given on the importance and contribution of the IT sector in the economic development of Pakistan. Among the other challenges faced by the sector in this inflation, the issue of profitability was also discussed.

Keeping in view the contribution of IT and Telecommunications towards the exports and overall growth of GDP, the delegation requested to reduce the taxes on goods pertaining to aforementioned sector as they barely fall under the category of luxury goods.

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

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The delegation was assured by the Finance Minister that all possible support will be extended to review taxation policies in order to encourage IT and Telecom related exports. All efforts of Finance Minister in this regard were welcomed and appreciated by the delegation.

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