Non-filers are on alert as the International Monetary Fund (IMF) has started discussions with the Federal Board of Revenue (FBR) over revenue targets. The focus is on improving tax collection and achieving economic goals.
An IMF delegation arrived in Pakistan on Monday to review the country’s fiscal performance and hold talks with key ministries. The federal government briefed the IMF on its economic progress, particularly in tax collection, where Pakistan achieved 96.6% of its target from July to September.
Led by the FBR chairman, officials presented the IMF with tax revenue data, reporting a total of Rs. 2,625 billion collected from July to September. This covered 96.6% of the target, although there was a Rs. 190 billion shortfall in the four-month period ending in October.
The IMF was informed that the FBR surpassed its September target by collecting Rs. 8 billion over the Rs. 1,098 billion goal. Income tax filings also saw a 76% increase year-on-year, with over 5.2 million filings generating more than Rs. 132 billion in revenue. Additionally, the FBR met its Rs. 10 billion tax target for retailers in the first quarter.
On Tuesday, the IMF team will meet with Finance Minister Muhammad Aurangzeb to discuss fiscal policies and measures to address the revenue gap. State Minister for Finance Ali Pervaiz Malik and representatives from the State Bank also attended the initial briefing.
