PayPal Remittances From This Month: Online Freelancers

(CTN News) – As of this month, Pakistani online freelancers will be able to receive PayPal remittances from third parties without creating a PayPal wallet, thanks to a tri-party.

Agreement,”, what was said in the remarks of Dr Umar Saif, caretaker Federal Minister for Information Technology and Telecommunications during his remarks, was of profund importance.

As a matter of fact, their ultimate goal would be to allow their foreign clients to pay them through a third-party digital wallet rather than through PayPal itself,

So that they can accept PayPal payments from foreign clients.

As part of the remittance process, the freelancer’s dollars will be remitted to Pakistan and the credit will be instantly applied to their bank account in Pakistan through an international remittance mechanism.

He explicitly stated that that new regime of the PayPal State Bank will give freelancers the opportunity to open bank accounts based on their digital wallets, receive debit cards, and create dollar accounts so that they and their family can freely transfer their earnings from one bank account to the other.

Freelancers will only have to pay a minimal tax of 0.25 percent on the gross income they earn on a regular basis in order to become registered with PSEB and gain access to its services.

It will also enable Pakistan to truly take advantage of the earning potential of our online freelancers, which will go hand-in-hand with our plan to create 10,000 e-rozgaar centers, Dr Saif added.

A Copyright Business Recorder will be established in 2024 as a result of the Copyright Law

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