IMF conditions: Pakistan to increase Rs 600 billion taxes

IMF conditions: Pakistan to increase Rs 600 billion taxes

*ISLAMABAD: A delegation of Federal Board of Revenue (FBR), headed by its Chairman Jehanzeb Khan held negotiation with the officials of International Monetary Fund (IMF) in connection with the expected bailout package and hinted at raise in tax collection target by Rs600bn in the next fiscal year, sources said. *

The sources said that the FBR officials briefed the IMF officials about tax reforms and took the officials into confidence over amnesty scheme.

They told the IMF officials that assets-declaration scheme and other schemes would attract non-filers into tax net.

Earlier in the day, a delegation of the International Monetary Fund (IMF) arrived in Pakistan to hold talks with Pakistani officials on a three-year bailout package for the country.

The IMF delegation will hold technical level talks with Pakistani officials. During its stay in the capital, the mission will visit various institutions and meet officials of the Finance Ministry, the FBR and State Bank.