New taxes will cripple the IT sector
KARACHI: The FY 2024-2025 budget burdens the skilled salaried class with higher income taxes, which may lead to a massive brain drain, exacerbating the current situation, hampering the growth of the Information Technology (IT) industry and potentially destroying it. The General Sales Tax (GST) on IT hardware has been increased from 5% to 10%, weighing on digitization efforts, IT professionals and experts said. They believe that the government intends to bury the IT industry as the new taxes threaten to destroy this growing sector soon. Prof. Tahir Mahmood Chaudhry, President of Computer Society of Pakistan (CSP), a prominent IT think
