Tuesday, May 28, 2024

IMF Applauds FBR’s Tax Net Expansion, Forecasts Record Collection for Pakistan

The International Monetary Fund (IMF) has lauded the Federal Board of Revenue (FBR) for its efforts in broadening Pakistan's tax base.

The IMF anticipates that Pakistan will achieve its highest-ever tax collection in the fiscal year 2023-24, with the FBR on track to gather Rs9.4 trillion in taxes.

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Moreover, the IMF has projected tax revenues to reach Rs11.5 trillion in the following fiscal year, 2024-25. The organization is optimistic about Pakistan's ability to collect Rs4803 billion in direct taxes and Rs4114 billion from sales tax.

In a separate development on Thursday, the IMF commended the policies of Pakistan's caretaker government for promoting economic stability.

The IMF acknowledged the interim government's efforts in maintaining economic stability, highlighting its decisive policy-making in this regard. The interim setup is expected to remain in power until the general elections in Pakistan scheduled for February 8.

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Zain is a dynamic business student with a passion for technology that goes beyond the classroom. When he's not immersed in his studies, Zain can be found playing with the latest gadgets, fueled by a genuine curiosity for emerging tech trends. His love for technology extends to his avid reading habits, where he stays updated on the latest advancements and breakthroughs in the tech world. Despite his academic focus, Zain is also an outdoor enthusiast, always ready for an adventure. With several years of experience in writing news, Zain brings a unique blend of business acumen, tech-savviness, and journalistic expertise to any discussion or project.
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