IMF demands to increase taxpayers from 0.9 to 2.2mln
ISLAMABAD (92 News) – The International Monetary Fund (IMF) on Wednesday demanded to increase the taxpayers from 0.9 million to 2.2 million.
According to the reports, the IMF has given new conditions to Pakistan for getting bailout package. According to the given conditions, it said that the tax exemptions should be removed for the next financial year. It added that the one per cent of whole population must be included in the taxpayers.
The Federal Board of Revenue (FBR) informed that the IMF demanded to conduct joint audit of sale tax and income tax, while the audit should be conducted p per cent of the taxpayers instead of 4.5 per cent.
The IMF further demanded to make improve the tax cases and import valuation system without any delay. It also said that the strict action should be taken against the tax invasion and the notice must be issued to one million tax thieves before the month of June.
Talks held with Pakistan on country’s economic situation: IMF
The IMF said talks with Pakistan held on the country’s economic situation and prevailing challenges.
Finance Minister Asad Umar briefed the IMF new mission chief about the two mini budgets presented by the current government. He apprised Ernesto Ramirez Rigo of steps taken against the tax evaders.
IMF mission chief expressed concerned over reduction in tax collection target while Asad Umar apprised Ernesto Ramirez Rigo of the reason behind the decline in revenue collection.
IMF mission chief for Pakistan concludes trip
IMF mission chief for Pakistan Ernesto Ramirez-Rigo visited Islamabad and Karachi in his two-day visit for introductory meetings with the authorities. The IMF concluded of two-day talks of its mission chief Ernesto Ramirez Rigo with Pakistnai officials.
In Islamabad, Ramirez-Rigo met with the Minister of Finance, Asad Umar, the Minister of Commerce, Razzak Dawood, the Minister of Power, Omer Ayub, the State Minister for Revenues Hammad Azhar, and several government senior officials, including the Finance Secretary, Younus Dagha, the Chairman of the Federal Board of Revenues, Jehanzeb Khan, and the Advisor to the Prime Minister on Institutional Reforms and Austerity, Ishrat Hussain.
In Karachi, he met with the Governor of the State Bank of Pakistan Tariq Bajwa and other senior officials from the State Bank of Pakistan.
Discussions focused on recent economic developments and prospects for Pakistan in the context of ongoing discussions toward an IMF-supported program.