{"id":65187,"date":"2020-05-08T10:00:00","date_gmt":"2020-05-08T05:00:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=65187"},"modified":"2020-05-07T16:01:26","modified_gmt":"2020-05-07T11:01:26","slug":"imf-proposes-pak-to-impose-new-taxes-in-budget-2020-21","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/imf-proposes-pak-to-impose-new-taxes-in-budget-2020-21.html","title":{"rendered":"IMF propositions Pakistan to impose new taxes in Budget 2020-21"},"content":{"rendered":"\n<p>Islamabad: The International Monetary Fund (IMF) has proposed a further raise in taxes during FY2020-21, a news source reported. To this effect, the international lending agency provided it\u2019s suggestions during an online video meeting held with the Pakistan Business Council (PBC) on Wednesday.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/imf-reduces-fbrs-tax-collection-targets-fy2019-20.html\" target=\"_blank\" rel=\"noreferrer noopener\">IMF reduces FBR\u2019s tax collection targets for FY2019-20<\/a><\/p>\n\n\n\n<p>According to details, the IMF teams wants Pakistan to increase its property tax revenue by 34% during the next fiscal year. The PBC, however, found the proposal unrealistic as the IMF itself projected that inflation rate in Pakistan will increase at 8% during the upcoming fiscal year, while the expected GDP growth rate was determined at 2% due to negative impact COVID-19 is inflicting on Pakistan\u2019s economy.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/covid-19-relief-imf-approves-usd-1-4-bn-aid-g20-wb-sanction-debt-assistance.html\" target=\"_blank\" rel=\"noreferrer noopener\">COVID-19 Relief: IMF approves USD 1.4 bn aid; G20, WB sanction debt assistance<\/a><\/p>\n\n\n\n<p>The PBC believes that demand for rise in policy rate will worsen the economic conditions by suffocating it further. Sharing more details, PBC Chief Executive Ehsan Malik said that the IMF suggests that Pakistan collects an additional PKR 800 by increasing existing taxes or introducing new ones in the upcoming budget.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The International Monetary Fund (IMF) has proposed a further raise in taxes during FY2020-21, a news source reported. To this effect, the international lending agency provided it\u2019s suggestions during an online video meeting held with the Pakistan Business Council (PBC) on Wednesday. Read: IMF reduces FBR\u2019s tax collection targets for FY2019-20 According to details, the IMF teams wants Pakistan to increase its property tax revenue by 34% during the next fiscal year. The PBC, however, found the proposal unrealistic as the IMF itself projected that inflation rate in Pakistan will increase at 8% during the upcoming fiscal year, while the expected GDP growth rate was determined at 2% due to negative impact COVID-19 is inflicting on Pakistan\u2019s economy. Read: COVID-19 Relief: IMF approves USD 1.4 bn aid; G20, WB sanction debt assistance The PBC believes that demand for rise in policy rate will worsen the economic conditions by suffocating it further. Sharing more details, PBC Chief Executive Ehsan Malik said that the IMF suggests that Pakistan collects an additional PKR 800 by increasing existing taxes or introducing new ones in the upcoming budget.<\/p>\n","protected":false},"author":18,"featured_media":61048,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015,15016],"tags":[28383,28384,28382],"persona":[],"class_list":{"0":"post-65187","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"category-new-developments","9":"tag-imf-proposal-for-pakistan","10":"tag-imf-proposal-for-pakistan-budget-2020-21","11":"tag-imf-propositions-pakistan-to-impose-new-taxes-in-budget-2020-21","12":"cat-15015-id","13":"cat-15016-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>IMF proposes Pak to impose new taxes in budget 2020-21 - Zameen News<\/title>\n<meta name=\"description\" content=\"The PBC, however, found the proposal unrealistic as the IMF itself projected that inflation rate in Pakistan will increase at 8% during the upcoming fiscal\" \/>\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\/imf-proposes-pak-to-impose-new-taxes-in-budget-2020-21.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF proposes Pak to impose new taxes in budget 2020-21 - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The PBC, however, found the proposal unrealistic as the IMF itself projected that inflation rate in Pakistan will increase at 8% during the upcoming fiscal\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/imf-proposes-pak-to-impose-new-taxes-in-budget-2020-21.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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