IMF tax experts’ team to visit Pakistan next week

ISLAMABAD: A team of the International Monetary Fund (IMF) will visit Pakistan next week to consult over tax net and to enhance tax revenue, sources said on Thursday.

Sources said that the technical experts’ delegation will hold consultations with the FBR over the taxation policy for about one week.

The delegation will suggest measures to the FBR for amendments in the tax policy, sources said, adding that “Introducing amendments in the tax policy aimed at expanding the tax net and collecting maximum tax”.

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According to sources, the FBR and the IMF experts will jointly prepare the basic structure for introducing scheme for retailers. “One million more taxpayers will be added in the tax net to enhance the number of taxpayers to six million,” sources said.

“The IMF technical team and the FBR will jointly prepare amendments in the tax policy, which will come into force by the next budget,” according to sources. Sources said that the technical experts delegation will assist to improve the tax policy and its enforcement.

The team of IMF experts will stay in Pakistan for one week, sources said. “This IMF team has nothing to do with the ongoing loan programme and the loan installment”, sources added.

The IMF executive board likely to approve the staff-level agreement with Pakistan on December 7, local media reported. The IMF executive board meeting will likely be held on December 7 and is expected to consider Pakistan’s case in the meeting.

Sources said that after the approval from IMF’s Executive Board around $700 million will be available to Pakistan, bringing total disbursements under the program to almost $1.9 billion. – INP