In order to raise more money for the nation, the FBR’s plan told the IMF about the tax changes and the actions it was taking to include 3.1 million merchants and defaulters under the tax system.
A briefing on structural improvements in the FBR was also given to the delegation, which aimed to collect Rs 9,415 billion in taxes.
The FBR claims that the IMF’s July–December 2023 objective was achieved since the organization raised Rs 4,468 billion as opposed to the Rs 4,425 billion target.
Prior to this, Pakistan was urged by the International Monetary Fund (IMF) to review the National Finance Commission (NFC) award with the provinces.
The president may approve the NFC Award, which divides income between the federation and the provinces, by issuing an order under Article 160 of the Constitution.
The newly elected administration forced all the provinces to accept a new formula and told the IMF team that the provincial portions could not be decreased without a constitutional revision.
