Govt announce to enhance limit of freelance payments to $25,000

• At present, the monthly limit of receiving payments for freelancers stand at $5,000.
• The government has decided to establish an international payment gateway with an Escrow account to facilitate exports.

In order to facilitate the freelancers, the government has decided to increase the monthly limit of receiving payments to $25,000, informed Special Assistant to Prime Minister Abdul Razzak Dawood.

At present, the monthly limit of receiving payments for freelancers stand at $5,000.

The Prime Minister chaired a meeting on E-commerce on Friday and took important decisions for expediting the progress for automation and tracking systems in Pakistan Post to improve logistics.

It was decided to establish an international payment gateway with an Escrow account to facilitate exports. Furthermore, the Federal Board of Revenue (FBR) and Finance Ministry will workout a concessional tax regime for SMEs in the E-commerce sector.

Back in November, the State Bank of Pakistan (SBP) announced to enhance payment limits against freelance services from dollars 1500 per individual per month to dollars 5000 per individual per month to broaden the scope of business to customer transactions through home remittance channel.

The enhancement was aimed at further facilitating freelancers by allowing them to route their funds through the economical and efficient channel of home remittances rather than keeping their funds with various online money transfer companies.