A team of IMF experts has reached Pakistan

A team of International Monetary Fund (IMF) experts reached Pakistan.

According to the sources, IMF experts will meet with the Finance Ministry and FBR officials from today.

IMF experts will consult to increase tax revenue and tax net.

Sources have said that a delegation of technical experts will consult the Pakistani authorities on the tax policy for about a week.

FBR and IMF technical delegation will take steps for amendments in tax policy.

According to FBR sources, the purpose of the amendments in the tax policy is to widen the tax net, the purpose of consulting experts will be to collect more tax.

The infrastructure of the scheme for retailers will also be built along with the technical delegation, bringing 1 million more people into the tax net, taking the number of taxpayers to 6 million.

Sources say that amendments in the tax policy will be prepared together with the technical delegation, the tax amendments prepared will be implemented in the next budget, the technical delegation will assist in improving the tax policy and enforcement.

Sources said that amendments will be decided to increase the tax-to-GDP ratio to 15%, a compliance improvement plan will be prepared by March 2024 in partnership with the IMF.

Under the Compliance Improvement Plan Risk Register Report and Dashboard has been prepared, Risk Register will be prepared on taxpayer information by FBR Field Formations, FBR Field Formations will provide taxpayer information to Banks, Nadra and FBR will meet with integration.

A list will be compiled for people outside the tax net which will also be shared with the IMF, compliance risk management will be made a part of the tax policy through amendments in the tax policy, FBR and IMF will work in partnership.

Sources say that talks will be held with the FBR technical delegation from today to separate tax administration and tax policy, a team of IMF experts will stay in Pakistan for a week, the team’s current loan program and its It has nothing to do with the episode.