ISLAMABAD, Jun 9 (APP): Following are the proposed budgetary measures pertaining to ICT (Tax on Services) Ordinance, 2001 for FY 2023-24
-Services provided by restaurants including cafes, food (including ice-cream) parlors, coffee houses, coffee shops, deras, food huts, eateries, resorts and similar cooked, prepared or ready-to-eat food service outlets etc. are proposed to be taxed @ 5% if payment is made through debit or credit cards, mobile wallets or QR scanning.
-Electric power transmission services are proposed to be taxed @ 15%.
-Granting the status of cottage industry to the freelance exporter of IT and IT enabled services. Such freelance exporters will not be required to file sales tax return.
-Rate of tax on IT based system development consultants is proposed to be reduced to 15% from 16%.
-Scope of IT and IT enabled services is proposed to be harmonized with scope envisaged under the Income Tax Ordinance, 2001 on the proposal of Ministry of Information Technology.