Pakistan has agreed with the International Monetary Fund to share the data of the tax evaders with the help of FBR, banks and NADRA, to improve the collection.
The agreement was reportedly reached during policy review talks between the IMF officials and Pakistan to release a $700 million loan tranche under SBA.
Sources said during the meeting with the international lender, the Federal Board of Revenue, banks, and the National Database and Registration Authority officials agreed upon the data sharing of the citizens evading taxes.
Pakistan briefed the IMF delegation that a detailed report of customers’ data will be dispatched in January 2024, the sources said.
The meeting also discussed improving the tax collection system and administration.
Meanwhile, Pakistan has shared a plan with the IMF on bridging the external financing gap by attracting foreign direct investment in various sectors, including energy, aviation, minerals, and agriculture.
According to media reports on Wednesday, the caretaker government expects a significant increase in FDI inflows during the current financial year to help meet the external financing gap. Sources within the Finance Ministry indicate that Saudi Arabia, the United Arab Emirates, and Qatar have expressed strong interest in investing in Pakistan’s economy.
