The International Monetary Fund (IMF) has decided to provide technical assistance to increase tax revenue in Pakistan and improve the efficiency of the Federal Board of Revenue (FBR).
For this purpose, a delegation of the IMF is scheduled to reach Pakistan next week.
Any amendments proposed in the tax policy as a result of the negotiations will be implemented from the new budget.
Sources said that negotiations to improve the tax policy and its implementation will continue for a week after the arrival of the IMF technical delegation to Pakistan next week.
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They further said that the delegation will review measures to increase tax revenue, and hold policy discussions with the FBR.
During the discussions, measures for amendments to the tax policy will also be reviewed. The purpose of the amendments is to increase the tax net and collect more revenue, the sources added.
The basic infrastructure of a scheme for retailers will also be developed, according to the sources.
The target is to bring in a million people into the tax net and increase it to six million. The proposed amendments to the tax policy will come into effect from the next budget, the sources added.
