IMF urges Pak to introduce taxes on retailers, real estate, and agri income

Business Nov, 9 2023

The IMF has called for the imposition of taxes on retailers, agricultural income, and the real estate sector in Pakistan.

According to sources, the Federal Board of Revenue (FBR) has developed a plan for the current fiscal year, which will be shared with the IMF for consideration.

The IMF aims to address the revenue shortfall by including these sectors in the tax net. However, the IMF rejected the proposal to implement a fixed taxation system in the real estate sector and instead instructed the provinces to establish a timeline for bringing the agricultural sector into the tax net.

The IMF has been briefed on existing taxation policies and emphasized the importance of achieving the financial year's revenue targets. The IMF has instructed that full taxes should be collected from sectors with low tax collection.

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NC Monitoring Desk https://www.dailynationalcourier.com/author/nc-monitoring-desk

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