The Prime Minister (PM) of Azad Kashmir Sardar Tanveer Ilyas said that its decided that there will be zero income tax for the IT Sector
A special package by the government of Jammu and Kashmir has been announced for the IT Sector and other industries.
Sardar Tanveer Ilyas the Prime Minister (PM) of Azad Kashmir stated that the AJK government has decided to introduce zero income taxes for the IT sector.
Free plots as well as buildings for the IT industry will also be provided by his government, whereas the companies that will be exporting up to 20 percent within the IT sector will be receiving incentives and tax exemptions, by the government.
Further he explained that in Rawalakot Azad Kashmir an IT Excellence Centre has been established and an under construction project of the IT Excellence Centre is being commenced in Muzaffarabad. Which will be brought to functioning within this month.
According to Sardar Tanveer Ilyas cheaper price of electricity which is Rs. 3 per unit, will be given to the Industries. With a halved sales tax, reduced withholding tax and the taxes on normal vehicles reduced to zero and hybrid vehicles sales tax decreased up to 12 percent in Azad Kashmir.
Number of tax filers boosted from 5000 to 37000 in Azad Kashmir. These decisions and action by the Kashmiri government straight up focus on Industry Favorable Environment, for the root reasons of its expansion and the creation of higher employment opportunities, said the AJK PM.