ISLAMABAD: The International Monetary Fund (IMF) has reduced Pakistan’s annual tax collection target by Rs64 billion.
Sources in the Finance Ministry said that the IMF had reduced the target of annual tax receipts from 1297 billion rupees to 1233 billion rupees. This means that the international lender has reduced the tax collection target by 64 billion rupees.
According to sources, the FBR has promised to increase tax receipts to 1233 billion rupees. The reduction in tax collection may affect the agreement with the IMF.
According to sources, the tax collection in March decreased by Rs107 billion while the target of tax collection for the month was Rs1,220 billion. However, the FBR could collect Rs1,113 billion in tax.
According to sources, the total deficit of FBR tax collection in the first nine months of the current fiscal year has reached Rs708 billion.
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