12-27-2010, 08:52 PM
Yes Triwhdxk! You are right AOP[Associations of Persons], Sole Proprietor, Private Limited and Public Limited can get benifit from this exemption. Here is what PSEB says about it
What about taxes?
IT firms and companies which earn through exports are exempt from corporate taxes till 2016; personal income taxes of employees, however, have to be paid.
Companies deriving revenues through the domestic IT market will be taxed.
Software houses/companies are exempt from customs duties and leviable taxes on import of hardware/software tools which are not manufactured locally and which are to be used for software development and export purposes.
(above text is taken from PSEB website please see following link)
http//www.pseb.org.pk/UserFiles/documents/YouWant_Become_Entrepreneur.pdf
and you can also find it in Income Tax Ordinance on FBR website
3[(133) Income from exports of computer software or IT services or IT enabled services upto the period ending on 30th day of June, 2016.
Explanation.-
For the purpose of this clause â
a) âIT Servicesâ include software development, software maintenance, system integration, web design, web development, web hosting, and network design, and
b) âIT enabled servicesâ include inbound or outbound call centres, medical transcription, remote monitoring, graphics design, accounting services, HR services, telemedicine centers, data entry operations 4[, locally produced television programs] and insurance claims processing.]
(above text is taken from Income Tax Ordinance 2001 please see following link for full document)
http//www.fbr.gov.pk/newdt/ITordinance/ITOrdinance2009/ITaxOrdinance2001ut28-10-2009.pdf
I hope this clears every thing.
Regards,
Imran Subhani
dot5ive.com
What about taxes?
IT firms and companies which earn through exports are exempt from corporate taxes till 2016; personal income taxes of employees, however, have to be paid.
Companies deriving revenues through the domestic IT market will be taxed.
Software houses/companies are exempt from customs duties and leviable taxes on import of hardware/software tools which are not manufactured locally and which are to be used for software development and export purposes.
(above text is taken from PSEB website please see following link)
http//www.pseb.org.pk/UserFiles/documents/YouWant_Become_Entrepreneur.pdf
and you can also find it in Income Tax Ordinance on FBR website
3[(133) Income from exports of computer software or IT services or IT enabled services upto the period ending on 30th day of June, 2016.
Explanation.-
For the purpose of this clause â
a) âIT Servicesâ include software development, software maintenance, system integration, web design, web development, web hosting, and network design, and
b) âIT enabled servicesâ include inbound or outbound call centres, medical transcription, remote monitoring, graphics design, accounting services, HR services, telemedicine centers, data entry operations 4[, locally produced television programs] and insurance claims processing.]
(above text is taken from Income Tax Ordinance 2001 please see following link for full document)
http//www.fbr.gov.pk/newdt/ITordinance/ITOrdinance2009/ITaxOrdinance2001ut28-10-2009.pdf
I hope this clears every thing.
Regards,
Imran Subhani
dot5ive.com
