Pakistan and the International Monetary Fund (IMF) have agreed on not revising the tax collection targets for the current financial year [2020-21], reported, sources on Saturday.
In this connection, the sources say the decision means there won’t be any change in the overall target of Rs4,963 billion set for revenue generation till June 30, 2021.
Certainly, it is a welcoming news for the people already hit by alarming inflation amid an increase in joblessness and reduced business activities as they won’t have to face any extra burden in the coming months.
However, the sources say, different administrative and enforcement measures would be taken to meet these targets.
According to the sources, the relevant authorities are confident about achieving the target set for the first six months [July-December 2020] after the FBR managed to meet the figures from July to November, which, in fact, exceeded the estimates.
Hence, an amount of Rs1,688 billion was collected as taxes during this period while the gross revenue generated by the FBR stood at Rs1,773, they added.