IMF seeks plan to collect Rs6,670 bn by June: sources

ISLAMABAD: The International Monetary Fund (IMF) has asked for a plan to collect Rs6,670 billion by June 2024, Bol News reported quoting sources as saying.

The projection report should report revenues from all sectors, the IMF demanded. The IMF demanded from the Federal Board of Revenue (FBR) to not to cut tax shortfall in revenue targets.

“A report on progress on pending tax cases was also sought from the FBR on Monday. The details of 1 million new taxpayers included in the tax net have been shared with the IMF. IMF also asked for details of how much tax the FBR is collecting from which sector,” the FBR sources said.

The sources said talks were held with the IMF regarding increase 4.9 million taxpayers to 10 million. With the help of IMF, World Bank, consultation will be done on increasing the number of taxpayers, they said.

“The IMF has not given any scope for shortfall in revenue collection and tax exemptions. Revenue collections should be increased by increasing the number of taxpayers,” the mission spoke to FBR officials

The FBR would submit a report on IMF demands on Monday, the FBR sources said.