Pakistan Revenue potential measured at $96 billion: World Bank

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Pakistan Revenue potential measured at $96 billion: World Bank

ISLAMABAD - Pakistan Revenue potential measures at $96 billion, World Bank new report has revealed.

The World Bank (WB) has projected that Pakistan's tax revenues, even without any intervention, could reach $82.4 billion (Rs12,788 billion) over the next nine years.

With intervention in the shape of taxation measures under the $400 million Pakistan Raises Revenues programme, the country's revenues, the bank predicts, can increase up to $96.6 billion (Rs14,992 billion).

On the issue of tax gap analysis, the WB found that Pakistan’s tax revenue would reach 26 per cent of GDP if tax compliance were raised to 75 per cent, a realistic level for MICs (Middle Income Countries).

Although, the FBR has halted the process of converting FBR into the PRA because officials of the tax machinery said that they were not taken into confidence over the restructuring plan.

Economy