Pakistan's taxation system undergoing significant digital transformation
Business
Pakistan’s taxation system undergoing significant digital transformation
ISLAMABAD (APP) - Caretaker Federal Minister for Information Technology and Telecommunication Dr Umar Saif on Saturday said that the taxation system is being digitalised and that it will help in documenting the economy.
Addressing a press conference here, the minister said that the IT sector had emerged as a vital contributor to the nation’s economy.
With a growing focus on digitisation, the taxation system was undergoing a significant digital transformation, which was poised to streamline economic documentation, added Saif.
He said that the ongoing digitisation efforts were expected to provide a substantial boost to the economy by creating a more transparent and documented financial landscape.
This initiative, he said, aligned with the government’s goal of transitioning towards a cashless economy.
The minister said that Pakistan’s IT sector had already made substantial strides, with total earnings reaching a remarkable $2.6 billion.
These earnings, he said, were expected to increase further with the implementation of measures aimed at enhancing the IT industry’s contribution to the nation’s reserves.
He said IT training would be provided to approximately 0.2 million young individuals.
The minister was of the view that this initiative sought to empower the youth and make them an integral part of the global economy.
In addition to workforce development, measures were being taken to facilitate freelancers, with plans to provide services for up to five million individuals across the country, he added.
This initiative, he said, aimed to boost economic growth by enabling freelancers to contribute billions of dollars to Pakistan’s economy.
