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.

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.