Pakistan Software Export Board (PSEB) offers numerous benefits to Information Technology (IT) companies that register with them. Not only do they enjoy reduced tax rates, but they can also avail themselves of tax credits on exports of IT services, legal voice traffic for call centers, subsidized participation in international exhibitions and roadshows, and more. In this article, we will delve into the benefits of registering with PSEB for IT services in Pakistan.
Reduced Tax Rates
PSEB has made it clear that a minimum tax rate of 0.25% will be applicable if IT services are registered with them. This reduced tax rate is beneficial for small and medium-sized IT companies as it enables them to save money on taxes.
Tax Credits on Exports of IT Services
Registered IT companies can avail themselves of tax credits on exports of IT services. This incentive helps companies increase their revenue and expand their business globally.
Legal Voice Traffic for Call Centers
PSEB registered call centers can legally carry out voice traffic. This is a significant benefit for call centers as it ensures they are operating within the legal framework of the country.
Subsidized Participation in International Exhibitions and Roadshows
PSEB facilitates IT companies’ participation in international exhibitions and roadshows by providing them with subsidies. This opportunity allows companies to showcase their services to a global audience, increasing their chances of securing international clients.
Marketing of IT Industry Through PSEB Sponsored IT Portal
PSEB has a sponsored IT portal that is used to market IT companies and their services. By registering with PSEB, IT companies can gain visibility on this portal and increase their chances of getting noticed by potential clients.
Subsidized Professional Trainings for Management and Technical Staff of IT Companies
PSEB offers subsidized professional training to the management and technical staff of IT companies. This training helps employees enhance their skills and keep up with the latest technological advancements.
Fully Paid Internships of ICT Graduates in the IT Industry
PSEB offers fully paid internships to Information and Communication Technology (ICT) graduates in the IT industry. This initiative helps fresh graduates gain practical experience and exposure to the industry, which can help them secure jobs in the future.
Incubation Program for IT Entrepreneurs in Startups
PSEB has an incubation program for IT entrepreneurs in startups. This program provides support to startups in the form of mentorship, access to funding, and office space. This initiative helps budding entrepreneurs kickstart their businesses and turn their ideas into reality.
Inbound and Outbound Visa Facilitation of Customers, Investors, and Company Employees
PSEB offers inbound and outbound visa facilitation services to customers, investors, and company employees. This service helps companies streamline the visa application process and ensure that their clients and employees can travel without any hassle.
The detailed procedure for Registration is hereunder:
Step 1: Easing into the Online Registration Portal
Signup and Login: Initiate the registration process by creating an account on the designated online portal. Temporary login credentials will be provided automatically upon successful registration.
Online Registration Form: Carefully fill out the online registration form, ensuring the accuracy and completeness of all information requested. Upload the applicable documents as required.
Initial Approval: Submit the completed registration form and documents for initial approval. Please note that submissions lacking mandatory information may be declined.
Step 2: Securing Final Approval
PSEB Approval: Upon receiving the initial PSEB approval, proceed to deposit the requisite fee. Upload the registration charges, payment receipt, and any additional documents as required. Submit the application for final approval.
Registration Payment Verification: Once the registration payment is verified, the PSEB typically processes and issues the certificate within 2-5 working days.
To ensure a seamless registration process, gather the following scanned copies of required documents:
CNICs (both sides) of all Directors/Shareholders/Partners/Proprietor
Passports of Directors/Shareholders/Partners (for foreign nationals only)
Memorandum and Articles of Association (for SECP registered companies only)
Form 29 (for SECP registered companies only)
Incorporation certificate (for SECP registered companies only)
Partnership deed (for Partnership-based firms)
Firm registration certificate (for registered firms)
Business Bank Statement of the preceding six months OR Business Bank Account Letter/Certificate (in case of a new account)
The registration fee structure is categorized as follows:
IT Startup Registration Fee: For IT startups established within the past 12 months, the registration fee is Rs. 5,000/-.
IT/ITeS Company Registration Fee: For established IT/ITeS companies, the registration fee is Rs. 10,000/-.
Note: The fee will be payable when your case is approved for registration.