FBR to present 'compliance' report to IMF in first round of talks
Pakistan
The report encompassed revenue target, payments of refunds and tax rebates
ISLAMABAD (Dunya News) – The Federal Board of Revenue (FBR) will present a report to the International Monetary Fund (IMF) during their first meeting on “technical issues” here on Friday.
The report encompassed revenue target, payments of refunds and tax rebates as dictated by the IMF during its previous meeting with Pakistan delegation.
The report mentioned that the target of income tax refunds during the period of July-September has been achieved.
According to the FBR report, no “amnesty scheme” was introduced while implementing the IMF conditions. Under the IMF terms the income tax refund payments were to be limited to Rs250 billion by September 2023. However, the FBR paid Rs200 as income tax refund by September 2023.
The FBR report stated that income tax refund payments were being gradually reduced according to the plan. The board did not give tax exemption during the first July-September quarter as agreed in the loan programme.
Also read: Finance ministry, IMF delegation discuss key issues
Officials have assured a delegation of the International Monetary Fund (IMF) on Thursday that all efforts will be put in place to fulfill commitments with the lender. A delegation of the IMF reached the Ministry of Finance for talks with Pakistan's economic team. The IMF team discussed technical issues with the team regarding release of $710 million tranche.
