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Monday, October 3, 2022

Steps to register yourself as freelancer in Pakistan and pay “ZERO” tax

Pakistan is one of the top five countries in the world for freelancing, with a total revenue of $0.5 billion created solely through freelancing. Because of the exponential growth of the IT sector, Pakistan is consistently ranked among the top destinations for Internet Communications and Technology (ICT) outsourcing and is ranked as the fourth most popular country for freelancing in the Online Labor Index published by Oxford Internet Institute (OII) in 2017. Pakistan is ranked fourth in the world in terms of software development and technology.

Freelancers to be tax exempted for 10 Years. IT Ministry Proposes

Many people earn a solid living working from home. He noted that many people in Pakistan combine freelance work with their regular professions to earn a decent living.

Steps to Register as Freelancer in Pakistan

  1. Go to Pakistan Software Export Board website.

What is PSEB:

The Pakistan Software Export Board (PSEB) is an apex government agency tasked with promoting Pakistan’s information technology industry in both domestic and foreign markets. PSEB supports the IT industry with a variety of projects and programs in infrastructure development, human capital development, firm capability development, international marketing, strategy and research, and technology promotion.

https://pseb.org.pk/app/

2. Select the option if you are a new Freelancer in Pakistan or already registered freelancer in Pakistan.

Pakistan hits highest ever IT Exports in 6 months, expected to reach $3.5 billion in this financial year

For New Freelancers:

  • Signup and create login (Temporary login credentials will be provided automatically).
  • Fill out the online registration form, upload applicable documents, and submit for initial approval (submission with missing mandatory information may be declined).
  • After getting initial PSEB approval, deposit requisite fee, upload registration charges, payment receipt and submit for final approval.
  • Once the registration payment is verified, it usually takes about 2-5 working days to process and issue the certificate.

Required Documents:

Scanned copies of:

  1. Personal NTN
  2. CNIC (Both Sides)
  3. Personal Bank Account Letter/Certificate

The Registration is FREE for new Freelancers in Pakistan.

Last date for free registration: June 30, 2022

18 new purpose-built Software Technology Parks to be established by December 2022

For already registered Freelancers:

  • Login to PSEB registration portal using login credentials.
  • Update registration renewal form, upload applicable documents and submit for initial approval (submission with missing mandatory information may be declined).
  • After getting initial PSEB approval, deposit requisite fee, upload registration renewal charges payment receipt, surcharge (if any) and submit for final approval.
  • Once the registration payment is verified it usually takes about 2-5 working days to process and issue the certificate

Required Documents

Scanned copies of:

  1. Summary of Export Revenue with proper IT/ITeS code defined by SBP (for export oriented freelancers).
  2. Income Tax Return for proceeding year.

FEE Structure:

Renewal charges for freelancers are Rs. 2,000/- per year

PSEB registration/renewal charges can now be made through online banking/mobile banking apps. If it is not possible to make online payments, you may pay through a pay order/demand draft as well. Please note that the receipt of online payments along with focal person’s name and contact details of the focal person must be emailed to reg.payments@pseb.org.pk to ensure timely processing of your PSEB registration application.

PSEB Online Account Details

PSEB NTN: 2315376-8
A/c Number: 04540013165001 (Habib Bank Ltd)
A/c Title: PSEB REGISTRATION
IBAN: PK23HABB0004540013165001 (Habib Bank Ltd)

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