*ISLAMABAD – **IMF high level delegation arrives in Pakistan for crucialdialogues.*
*A technical team of the International Monetary Fund (IMF) has arrived inPakistan to hold dialogues with the economic officials for the payment ofthe next tranche of $6 billion under extended loan programme.*
The technical team will stay for two weeks in Pakistan, whereas, the firstsession of the financial talks was held with the economic team today.
The recent visit of the IMF officials was made for the payment of nexttranche from the international financial body likely to be dispatched in2020. Sources said that the visiting team initiated dialogues with Pakistanofficials over the tax system.
The officials of the Federal Board of Revenue (FBR) briefed the technicalteam regarding the matters related to income and sales taxes besidesholding discussion over the possibilities of retrieving more than Rs700billion in term of tax collections.
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The technical team urged the Pakistani officials to eliminate exemptionsbeing given on income and sales tax to increase the collections. Sourcesrevealed that the technical team will also review the tax exemption whichhad been given during the tenures of Pakistan Muslim League Nawaz (PML-N)and Pakistan People’s Party (PPP).
It may be noted here that Pakistan had received $1 billion from theInternational Monetary Fund (IMF) as the first tranche of bailoutpackage for balance of payment support on July 10.
