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Pakistani Tax Reform Lagging Behind Targets, IMF Says

by Lorys Charalambous, Tax-News.com, Cyprus

10 November 2015


Pakistan should focus on accelerating steps to widen the tax net, to raise funds for more infrastructure investment and social assistance, the International Monetary Fund has said.

Pakistan failed to reach its fiscal deficit and tax revenue targets under an economic program backed by an IMF Extended Fund Facility (EFF), the IMF said in a statement following its ninth review of the program. However, the IMF welcomed the Government's plans to take action to attain the budget deficit and tax revenue targets for the fiscal year 2015/16.

Earlier this year, the IMF praised the steps being taken by the Government to broaden the tax base, including by eliminating tax exemptions and concessions. However, it said there remains significant scope to increase tax compliance rates and bolster enforcement actions.

TAGS: Pakistan | compliance | tax | investment | economics | tax compliance | fiscal policy | budget | International Monetary Fund (IMF) | enforcement | tax reform | Tax | Tax Evasion

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