Daily Times

The International Monetary Fund (IMF) has asked Pakistan to share a report on the possible tax collection from all sectors during the ongoing technical-level talks between the two sides. The Federal Board of Revenue (FBR) has assured the visiting team of meeting the tax collection target of Rs9,415 billion this year.

The IMF has also sought a progress report on the pending tax cases from the FBR on Monday. Officials say Pakistan has collected Rs2,748 billion in the first four months of the ongoing fiscal year. The Fund has also asked for a plan to collect the remaining Rs6,670 billion by June 2024. FBR officials claim there is no possibility of a shortfall in achieving the tax revenue targets. Moreover, the details of one million new taxpayers included in the tax net have been provided to the IMF.

The two sides also discussed the proposed plan to increase the existing 4.9 million taxpayers to 10 million. They are also likely to hold consultations on increasing the tax net with the help of the IMF and the World Bank. The IMF has demanded increasing tax revenue by increasing the number of taxpayers, as per sources.