Canada Global (Web News) The International Monetary Fund (IMF) asked Pakistan for a tax plan for the next 10 months during the negotiations.
The second session of the Technical Level Dialogue on Economic Review between Pakistan and the International Monetary Fund (IMF) reviewed the economic data of the first quarter, and discussed in detail the tax collections of the FBR. . During the talks, the International Monetary Fund (IMF) asked Pakistan’s economic team to project potential tax revenue in the next 10 months. According to sources, the IMF has started putting demands before the economic team.
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Will not bring new tax amnesty scheme, Pakistan’s assurance to IMF
A strategy to increase the number of taxpayers from 4.9 million to 1 crore was considered in the technical level talks between Pakistan and the IMF. Details of 1 million new taxpayers added to the tax net during the negotiations have been provided to the IMF.
The IMF was informed by the economic team that the data of another 1 million people is being collected from business transactions and banks and notices are being sent. In the second phase, identity cards of major tax defaulters can also be blocked. In addition to the International Monetary Fund, support from the World Bank has also been indicated to increase the tax net.
IMF’s satisfaction with Pakistan, assurance of continued cooperation
The FBR has assured the IMF of meeting the annual tax target without any shortfall. According to officials, the IMF has been assured of meeting the tax target of Rs 9,415 billion for the current financial year. 2 billion rupees tax has been collected while the remaining tax of 6670 billion rupees will be collected by June 2024.
