ISLAMABAD (WS News) – The Federal Board of Revenue (FBR) official has stated that the IMF is satisfied with the 1.5 percent improvement in the tax-to GDP ratio.
As a result, no-mini-budget will be introduced and there will be no imposition of General Sales Tax (GST ) on petroleum products.
According to FBR sources, the annual tax target of Rs12,970 billion will be maintained. The tax-to GDP ratio has increased from 8.8 percent to 10.3 percent.
Starting next year, tax collection on agricultural income will commence.
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Ongoing discussion with the IMF are expected to include potential changes to business-friendly schemes.
