A team of the International Monetary Fund (IMF) on Monday reached Pakistan to consult over tax net and to enhance tax revenue. Sources said that the technical experts\u2019 delegation will hold consultations with the Federal Board of Revenue (FBR) over the taxation policy for about one week. The delegation will suggest measures to the FBR for amendments in the tax policy, sources said. \u201cIntroducing amendments in the tax policy aimed at expanding the tax net and collecting maximum tax,\u201d sources said. According to sources, the FBR and the IMF experts will jointly prepare the basic structure for introducing the scheme to retailers. \u201cOne million more taxpayers will be added to the tax net to enhance the number of taxpayers to six million,\u201d sources said. \u201cThe IMF technical team and the FBR will jointly prepare amendments in the tax policy, which will come into force by the next budget,\u201d according to sources. It was further learnt that the talks on the tax net will not affect the transfer of the loan tranche. Earlier it emerged that the the IMF executive board is likely to approve the staff-level agreement with Pakistan on December 07. The IMF executive board meeting will likely be held on December 7 and is expected to consider Pakistan\u2019s case in the meeting. Sources said that after the approval from IMF\u2019s Executive Board around US$700 million will be available to Pakistan, bringing total disbursements under the program to almost US$1.9 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"
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