Another blow from IMF: Rs 8300 billion target for FBR
International Financial Institution has given FBR a target of Rs 800 billion in excess tax collection in current fiscal year
IMF has demanded an increase in tax revenue up to 800 billion rupees, and target of tax revenue has been set at 8100 to 8300 billion rupees. The federal government is in trouble.
On the second day of talks between Pakistan and the IMF, a meeting was held with the tax authorities, in which various issues were reviewed to increase tax revenue and control the deficit by increasing tax revenue.
According to Finance Ministry sources, technical talks were held with the Federal Board of Revenue.
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In the meeting, preparations for bringing mini budget in February were discussed. In the negotiations, the government of Pakistan agreed to increase the taxes of 200 billion through the mini budget, but the IMF has demanded a moratorium and demanded that the IMF impose a tax of 600 to 800 billion rupees.
According to the sources, the IMF is demanding Pakistan to increase the tax revenue to 1% of the economy. An increase of 600 to 800 billion rupees in tax revenue is being sought by increasing the taxes of one percent of the economy and especially the Federal Board of Revenue is being pressured to set the annual target of taxes up to 8300 billion by June 30, 2023.
The federal government is determined to collect the tax target of Rs 7470 billion by 30 June 2023 despite the harsh economic conditions and severe discouragement of imports.
