Pakistan Govt Whopping Rs1 27tr hike in taxes committed with IMF – Voice Of Vienna voiceofvienna.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from voiceofvienna.org Daily Mail and Mail on Sunday newspapers.
Pakistan has made a commitment with the International Monetary Fund (IMF) to increase FBR taxes by a massive Rs1.272 trillion (almost 2.8 per cent of GDP) in the coming budget. AFP/File
ISLAMABAD: Pakistan has made a commitment with the International Monetary Fund (IMF) to increase FBR taxes by a massive Rs1.272 trillion (almost 2.8 per cent of GDP) in the coming budget and jack up electricity rates by almost Rs4.97 per unit in the remaining three months of the current fiscal year.
According to documents released by the IMF after approval by its executive board of directors of the modified extended fund facility (EFF), the government has also given an undertaking to continue making electricity tariff adjustments next year on monthly, quarterly and annual basis through “automaticity” of regulator Nepra’s amended powers.
Pakistan will not be able to meet tax collection target in current fiscal year
Pakistan
Photo: File.
Pakistan has told the International Monetary Fund (IMF) it will not be able to meet the tax collection target in the current fiscal year, adding that the government will enhance it to Rs6,000bn in the next fiscal year.
The Pakistani government has assured the IMF it will either impose additional taxes worth Rs1,300-1,400 billion or increase the current tax rates, during the next fiscal year, to enhance revenue.
Pakistan also told the international money lender that its current tax collection targets will not increase beyond Rs4,600 billion.
Pakistan tells IMF it will either add more taxes or increase tax rates in next fiscal year
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The logo of the International Monetary Fund. Photo: Fiile
Pakistan assures IMF it will set its tax collection target to Rs6,000 billion in next fiscal year.
Current fiscal year tax collection targets will not be met, says Pakistan.
IMF Mission Chief for Pakistan Ernesto Ramirez-Rigo said Pakistan will have to take concrete steps to increase its revenue.
ISLAMABAD: The Pakistani government has assured the International Monetary Fund (IMF) that it will either impose additional taxes worth Rs1,300-1,400 billion or increase the current tax rates, during the next fiscal year, to enhance revenue.