Federal Government is Government planning to impose increased Tax on Freelancers in Pakistan like Youtube, Tik Tok and Facebook etc.
As per the information, the Federal Government is thinking to impose 30 % tax on freelancers in Pakistan in the upcoming budget for the fiscal year 2022-23 to be announced in a few days time.
It is anticipated that the upcoming budget may add tax charges on the freelancers who are selling there IT services to bring the much needed foreign exchange to the country.
In case of implementation of 30 percent tax bar it may result in a huge obstacle for the entire industry specially on the lower income people as they will have to bear a reduced earning straight away during these tough times of high inflation globally.
As per reports, it may also happen that offices of social media platforms would be set up in Pakistan and earning from them would be made in local Pakistani currency.
The decision to increase taxes on freelancers and content creator like many other industries had been in due consideration because of stiff conditions set by the IMF for the restoration of loan program.