IMF Assured of Rs200b Tax Measures
Pakistan has assured the International Monetary Fund (IMF) that it will take Rs200 billion worth of additional tax measures in January to compensate for any slippages in the budget surplus.
The measures include increasing income tax rates on landline and mobile phones and cash withdrawals from banks, and will be triggered if the Federal Board of Revenue (FBR) misses its December target or expenses rise above limits.
- Increasing sales tax on solar panels
- Expanding the web of federal excise duty (FED) to confectioneries and biscuits
The measures will only be triggered following lower-than-targeted revenues and higher-than-agreed expenses in July-December of the current fiscal year.
Author's summary: Pakistan assures IMF of additional tax measures.
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