Withholding tax rate on telecom services is expected to increase by 5%
Islamabad: Another bad news about inflation is about to hit people of Pakistan as the government is considering an increase in withholding tax on telecom services from 10 per cent to 15 per cent.
According to details, the withholding tax rate on telecom services is expected to increase by 5%.
According to sources in the telecom sector, 98% of the 187 million telecom service users in Pakistan are prepaid. However, the increase in withholding tax will also raise the rates of telecom services and internet, making it more expensive.
Sources said that the government had promised to reduce the holding tax by 8%.
Previously, the government had reduced the withholding tax from 12% to 10% in the 2020 budget and promised to reduce the withholding tax to 8%.
Pakistan is one of the countries with high tax rates on telecom sector. In South Asia, Pakistan ranks second in terms of tax rates.
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