Islamabad, Pakistan: Pakistan has faced significant challenges in meeting the International Monetary Fund’s (IMF) tax collection targets, particularly in relation to the Tajir Dost scheme.
The government’s failure to collect the required amount under the Tajir Dost scheme has raised concerns about its ability to implement necessary reforms and achieve its economic goals. The scheme aims to bring traders into the tax net and increase revenue collection.
Despite efforts to incentivize traders to register and pay taxes, the FBR has struggled to meet the target, collecting only Rs1 million out of the required Rs10 billion in the first quarter of the fiscal year. Express Tribune
The IMF report highlighted the government’s leniency towards traders and the need to take stricter measures to ensure compliance. The government has also faced challenges in implementing other tax measures and meeting its overall revenue targets.
The failure to meet the IMF’s tax collection targets could have negative implications for Pakistan’s economic stability and its ability to secure further IMF support. The government will need to take decisive action to address these challenges and improve tax compliance.
