{"id":52711,"date":"2019-06-16T10:00:00","date_gmt":"2019-06-16T05:00:00","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=52711"},"modified":"2020-02-10T17:39:50","modified_gmt":"2020-02-10T12:39:50","slug":"wb-approves-usd-518-mn-facilitate-pakistans-revenue-raising-efforts","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/wb-approves-usd-518-mn-facilitate-pakistans-revenue-raising-efforts.html","title":{"rendered":"WB approves USD 518 mn to facilitate Pakistan\u2019s revenue-raising efforts"},"content":{"rendered":"<p>Islamabad: The World Bank (WB) has approved a sum of USD 518 million (PKR 79 billion) to aid Pakistan in its revenue-generation efforts, a news source reported.<\/p>\n<p>Read:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/world-bank-approves-loans-power-projects.html\" target=\"_blank\" rel=\"noopener noreferrer\">World Bank approves loans for power projects<\/a><\/p>\n<p>The federal and Khyber Pakhtunkhwa (KP) governments will invest the approved funds in two projects to reduce compliance cost. According to WB\u2019s Country Office, this initiative is aimed at provision of better services to the people.<\/p>\n<p>Out of the total amount, WB has approved a grant of USD 400 million to the Federal Board of Revenue (FBR) for initiating tax reforms and the remaining USD 118 million for KP Revenue Mobilisation &amp; Public Resource Management Project.<\/p>\n<p>Read:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/rmc-forwards-development-schemes-to-world-bank-for-funding.html\" target=\"_blank\" rel=\"noopener noreferrer\">RMC forwards development schemes to World Bank for funding<\/a><\/p>\n<p>With the loan for tax reforms, FBR aims to increase the Gross Domestic Product (GDP) ratio from 13% to 17% and increase the number of income tax return filers up to 3.5 million by 2024. The agency\u2019s goals also include decreasing the number of hours per year for paying income taxes and introducing customs reforms.<\/p>\n<p>Meanwhile, the KP government will utilise funds worth USD 118 million to increase its capacity of revenue collection and to manage the resources allocated to the province.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The World Bank (WB) has approved a sum of USD 518 million (PKR 79 billion) to aid Pakistan in its revenue-generation efforts, a news source reported. Read:\u00a0World Bank approves loans for power projects The federal and Khyber Pakhtunkhwa (KP) governments will invest the approved funds in two projects to reduce compliance cost. According to WB\u2019s Country Office, this initiative is aimed at provision of better services to the people. Out of the total amount, WB has approved a grant of USD 400 million to the Federal Board of Revenue (FBR) for initiating tax reforms and the remaining USD 118 million for KP Revenue Mobilisation &amp; Public Resource Management Project. Read:\u00a0RMC forwards development schemes to World Bank for funding With the loan for tax reforms, FBR aims to increase the Gross Domestic Product (GDP) ratio from 13% to 17% and increase the number of income tax return filers up to 3.5 million by 2024. The agency\u2019s goals also include decreasing the number of hours per year for paying income taxes and introducing customs reforms. Meanwhile, the KP government will utilise funds worth USD 118 million to increase its capacity of revenue collection and to manage the resources allocated to the&hellip;<\/p>\n","protected":false},"author":68,"featured_media":39276,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[11898],"persona":[],"class_list":["post-52711","post","type-post","status-publish","format-standard","has-post-thumbnail","tag-details-on-wb-approves-usd-518-mn-to-facilitate-pakistans-revenue-raising-efforts"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>WB approves USD 518 mn to facilitate Pakistan\u2019s revenue-raising efforts - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The World Bank (WB) has approved a sum of USD 518 million (PKR 79 billion) to aid Pakistan in its revenue-generation efforts, a news source\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/wb-approves-usd-518-mn-facilitate-pakistans-revenue-raising-efforts.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WB approves USD 518 mn to facilitate Pakistan\u2019s revenue-raising efforts - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The World Bank (WB) has approved a sum of USD 518 million (PKR 79 billion) to aid Pakistan in its revenue-generation efforts, a news source\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/wb-approves-usd-518-mn-facilitate-pakistans-revenue-raising-efforts.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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