ISLAMABAD – Pakistan Revenue potential measures at $96 billion, World Banknew report has revealed.
The World Bank (WB) has projected that Pakistan’s tax revenues, evenwithout any intervention, could reach $82.4 billion (Rs12,788 billion) overthe next nine years.
With intervention in the shape of taxation measures under the $400 millionPakistan Raises Revenues programme, the country’s revenues, the bankpredicts, can increase up to $96.6 billion (Rs14,992 billion).
On the issue of tax gap analysis, the WB found that Pakistan’s tax revenuewould reach 26 per cent of GDP if tax compliance were raised to 75 percent, a realistic level for MICs (Middle Income Countries).
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Although, the FBR has halted the process of converting FBR into the PRAbecause officials of the tax machinery said that they were not taken intoconfidence over the restructuring plan.
