From Business Correspondent
ISLAMABAD: The dialogues between Minister of State for Revenue Hammad Azhar and IMF delegation on tax reforms and increasing income have succeeded. The minister of state for revenue held a meeting with IMF delegation on tax reforms and increasing income. Federal Board of Revenue (FBR) chairman Jahanzaib Khan and other officials also attended the meeting. Sources said that the dialogues with the IMF teams have succeeded. The IMF team welcomed the action against tax evaders.
The IMF team was given a detailed briefing on increasing tax income, preventing tax evasion, tax notices and team was ensured that the action against tax evasion will continue indiscriminately.
The IMF was further told that the tax policy board would be separated from the FBR. Earlier, after first round of policy level talks which were held, the government is expected to increase power and gas tariff and tax net. During the first round, the officials of Finance Ministry and Federal Board of Revenue (FBR) apprised the IMF delegation on next budget and steps being taken to increase tax.
The IMF delegation, led by its chief Herald Finger, kicked off nearly two weeks talks with Pakistani team on the formal written request of Islamabad for a possible bailout package, which will be country’s 13th bailout. On October 11, Pakistan had formally requested financial assistance from the IMF, the fund, setting in motion a series of talks that could lead to a bailout.