ISLAMABAD: Minister of State for Information Technology and Telecommunication Anusha Rehman has said that the income tax rate applicable for corporate sector is 32 per cent for tax year 2016, which would be decreased to 31 per cent for tax year 2017 and 30 per cent for tax year 2018.
The minister said this during the 22nd meeting of the Standing Committee on Information Technology and Telecommunication, held under the chairmanship of Capt (R) Muhammad Safdar. Anusha Rehman briefed meeting regarding taxation on telecom sector and proposals.
The minister of state stated that the companies including the telecommunication companies had to file their annual income tax return declaring their net income/receipt. She informed that telecom sector is one of the highest with holding agent on behalf of federal government and collects Withholding Tax at 14 per cent from Customer at the time of recharge of scratch card or easy load.
At present certain legal issues arising from income tax assessment of Telecom Sector are pending with Supreme Court. She further described that Ministry of Information Technology and Telecommunication had decided that a five hundred beds hospital will be constructed at Telephone Industries of Pakistan (TIP) to provide medical treatment facilities/incentives for the workers/labours of the TIP.
The Committee further recommended that all Cellular Companies may develop and to provide all necessary facilities to the respective areas where service of Cellular Companies are available.
