FBR's first technical dialogue meeting with IMF mission

Islamabad: The first technical meeting of Federal Bureau of Revenue (FBR) officials with International Monetary Fund (IMF) mission was held in which implementation report was presented by FBR.

According to details, the FBR report said that implementation of IMF conditions on revenue target, refunds payments and tax exemptions continues. The target of income tax refunds payments was achieved from July to September.

The report stated that amnesty scheme was not introduced while implementing the IMF conditions. Income tax refund payments were to be limited to Rs250 billion by September 2023. FBR limited the income tax refund payments to Rs200 billion by September 2023.

It has also been further stated that income tax refund payments are being gradually reduced as per the share plan with the IMF, while the FBR did not give tax exemptions during the first quarter of the loan program.