Islamabad: The government has decided to introduce new taxation measures worth 15 billion rupees in the next few days under the agreement to revive the IMF loan program.
According to media reports, the new measures are expected to be taken before the IMF board talks on August 24 to release a $1.17 billion tranche for Pakistan as part of the Expanded Fund Facility (EFF). Approval will be given.
Official sources told Dawn that the tax authorities have assured the IMF to collect Rs 42 billion from the fixed tax on shopkeepers, after the withdrawal of tax imposed on retailers, which should now be collected from other taxpayers. To cover this loss.
Sources said that we have informed the IMF that the tax on traders will now be around Rs 27 billion, as announced in the budget, to offset the loss or increase in tax rates by the tax authorities. There are several suggestions for imposing new taxes.
He said that the government has assured the IMF that no revenue will be compromised before a staff-level agreement, a staff-level agreement was reached between Pakistan and the IMF last month. .
According to reliable sources, the sectors that will be taxed more include tobacco and cigarettes. .
An FBR tax official told Dawn that no proposal has been made to change the tax in the fertilizer sector, so far no such tax initiative has been taken in the fertilizer sector. Tax exemption on fertilizer has been given.
