Islamabad:
Senator Anusha Rehman says textile mill owners are registering their textile product exports as an export of information technology to avoid the recently imposed income tax.
Speaking at a meeting of the Senate Standing Committee for Finance on Wednesday, former Minister of State for Senator Anusha Rehman said that textile exporters are taking advantage of the income tax facility to reduce the reduction of exports of information technology. PPP was chaired by Senator Saleem Mandviwala.
It should be noted that textile exports have been imposed on 29 income tax, while the tax rate on information technological exports is still 0.25 % while the tax rate on the export of IT services is 1 %.
The chairman of the meeting, FBR Rashid Lingarial assured the committee to investigate the matter, it was clear that during the first half of this fiscal year, IT exports increased by 28 % to $ 1.9 billion, while the government Experts were predicted to reduce IT exports due to repeated internet closures.
In this context, doubts are being expressed about this rapid increase in IT exports, according to the details presented to the Senate, 652 IT companies have been registered in January, which new companies registered last month. 20 % are made, Senator Anusha Rehman has been informed by the IT industry.
The IT industry has expressed concern that such an unrealistic spread of the IT industry, which could allow the government to eliminate the income tax discount,
Sources in the IT industry say that companies registered after June have long been exported than registered companies, which is also a cause of concern, and it expresses irregularities.
