The Federal Board of Revenue has decided not to impose more taxes on the public this year.
According to sources, the FBR's tax collections have exceeded the target in the current financial year, and in five months, the FBR has achieved the set tax targets, after which it has been decided not to impose more tax burden on the people this year. According to sources, the tax target of Rs 4963 billion will be maintained till June 20, 2021. The collection target for the first half of the current financial year will be achieved.
On the other hand, the IMF has approved Pakistan's request for a delay in tax measures for six months. Pakistan had requested the IMF to delay the implementation of tax measures. According to sources, the IMF demanded a change in the income tax rate from Pakistan. Yes, virtual talks on corporate income tax between the IMF and Pakistan will take place in the first week of January. In addition, Pakistan and the IMF have agreed to renegotiate the sales tax exemption in July 2021.
