Special Technology Zones Authority (STZA) Chairman Amer Hashmi has said that work has started on establishing five technology zones in different cities including Islamabad, Lahore and Haripur to facilitate information technology companies. STZA has proposed additional tax exemptions in the upcoming budget for the companies to be established in these tech zones. Under the STZA Act, the companies operating in the tech zones are offered 10-year tax exemption, 10-year tax rebate, a relaxed foreign exchange policy and other benefits. The technology companies will be provided one-window facility in these zones, and the STZA is striving for provincial tax exemptions as well for the tech zones in the respective provincial jurisdictions. STZA officials, while highlighting their achievements, mentioned that Samsung had launched mobile phones in Pakistan, enabling the country to save millions of dollars.

Source: The Express Tribune June 03, 2022 18:28 UTC