An International Monetary Fund (IMF) technical delegation will arrive in Pakistan next week to help authorities implement stringent measures for enhancing tax revenue, well-informed sources told ProPakistani.
The delegation is expected to engage in a week-long discussion with the Federal Board of Revenue (FBR) to deliberate on crucial aspects of the tax policy.
FBR sources revealed that the discussions between the FBR and the IMF technical delegation will center on amendments to the existing tax policy. The primary objective of these amendments is to widen the tax net and bolster revenue collection for the government.
An integral part of the collaborative efforts includes the development of infrastructure to introduce a scheme tailored for retailers. This initiative aims to streamline tax processes within the retail sector and ensure a more comprehensive inclusion of businesses in the tax net.
The ambitious target of bringing an additional 1 million individuals into the tax net is anticipated to increase the total number of taxpayers to 6 million. The proposed amendments in the tax policy, devised in conjunction with the technical delegation, are earmarked for implementation in the upcoming budget.