FBR asked to facilitate startups, e-commerce

FBR asked to facilitate startups, e-commerce

ISLAMABAD: Federal Board of Revenue (FBR) has been asked to facilitate startups and e-commerce across border exporters in the country.

Special Assistant to the Prime Minister (SAPM) on E-Commerce, Senator Aon Abbas Buppi on Tuesday issued the directives at a meeting with FBR Chairman Dr. Muhammad Ashfaq.

The SAPM also stated that startups is a growing economy and this segment needs all the facilitation by the government to promote digital economy and promoting e- Commerce, said a press release issued here.

READ MORE: FBR slashes sales tax rates on petrol, HSD

Aon Abbas Buppi specifically asked to abolish minimum turnover taxes for new startups to provide a conducive business environment for them.

SAPM discussed with the FBR chairman to offer facilitation for startups and e-Commerce cross border exporters, Chairman FBR agreed to work on proposals from SAPM and assured that FBR will work along with the Ministry of commerce to create a conducive environment for the e-commerce ecosystem.

Meanwhile Special Assistant to the Prime Minister (SAPM) on E-Commerce said the government has built the first e-commerce university in the country and is pursuing a revolutionary program to provide skilled labor in the sector.

READ MORE: FBR to re-notify property values on February 01

The e-commerce university will start its work by March 2022, which will provide affordable and quality education to the students. The country needs standard e-commerce university time.

He said that the government of Pakistan Tehreek-e-Insaf (PTI) has introduced the first e-commerce policy in October 2019, which would create new avenues of employment opportunities for the youth of the country.

Aon Abbas said that E-Commerce policy provides communities with a guideline on how they can take advantage of this innovative opportunity.

He said the country currently has more than 50 percent youth population for whom there would be huge job opportunities in the e-commerce sector.

READ MORE: FBR extends date for filing sales tax return

SAPM said that Prime Minister Imran Khan has given us a target to open 10 million new jobs through the e-commerce sector.

He said that 10,000 new companies have to be opened and 10,000 new people have to be trained to create more manpower in this sector.

He said that at present the global market for e-commerce is $30 trillion, of which Pakistan’s share is very small.

It has $4 trillion in Business to Business and $4 trillion in Business to Companies trade.

READ MORE: Cash transactions above Rs50,000 not admissible

Leave a Reply

You have to agree to the comment policy.