ISLAMABAD – Paksitan asked by International Monetary Fund to establishFederal Revenue Agency.
The International Monetary Fund (IMF) has recommendation the federalgovernment of Pakistan to establish the Federal Revenue Agency to collecttaxes from across the country.
The global moneylender believes that collection of taxes will be moreefficient if the revenue agency is formed and maintains that it shouldcollect taxes at provincial and district level.
Thereby, taxpayers will not have to travel to federal, province anddistrict tax offices and all taxes at federal, provincial and districtlevel will be collected at the same place.
The IMF has further recommended that the center could return the taxes tothe provinces and districts after collecting it at one place.
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In Pakistan, taxpayers are required to fill 47 tax forms and so it isessentially required to simplify tax forms filling and submission processand its collection.
With the recommendation, the IMF maintains that any form of tax can becollected at any tax office across the country.
