ISLAMABAD: The International Monetary Fund (IMF) has showed satisfaction on the efforts of the Federal Board of Revenue (FBR) to collect the tax revenue as well as stressed the need for broadening the tax base.
According to the details, IMF’s Post-Program Monitoring Mission met with Special Assistant to Prime Minister Haroon Akhter regarding tax policy and administrative issues while Chairman FBR Tariq Mahmood Pasha and Members of the FBR including Member Operation Khawaja Tanvir Ahmed, Member Taxpayers Audit Rehmat Ullah Khan Wazir, Member Customs Muhammad Zahid Khokhar, Member Policy Inland Revenue Dr. Muhammad Iqbal were also present in the meeting held at the FBR House on Monday.
Akhter mentioned that significant growth has been achieved in revenue generation in the current fiscal year. The chairman FBR briefed the mission about the implementation process of tax reforms and progress regarding the tax revenue collection during the last five month and hoped that FBR will get the revenue targets of current financial year (2017-18).
According to the FBR sources IMF’s Post-Program Monitoring Mission appreciated the efforts of Federal Board of Revenue and noted impressive 20 percent growth in revenue collection. Mission has stressed upon the senior officials of revenue authority to do more efforts to increase the numbers of filers.
Mission were of the view that Federal Board of Revenue need to redouble their efforts to increase the tax revenue to the one 1 percent of the GDP. FBR leadership assured the mission that despite all the challenges we will continue our efforts to broaden the tax base and increase the revenue collection.