{"id":65643,"date":"2020-05-19T10:27:00","date_gmt":"2020-05-19T05:27:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=65643"},"modified":"2020-05-18T16:29:32","modified_gmt":"2020-05-18T11:29:32","slug":"imf-proposes-additional-taxes-worth-pkr-575bn-budget-2020-21","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/imf-proposes-additional-taxes-worth-pkr-575bn-budget-2020-21.html","title":{"rendered":"IMF proposes additional taxes worth PKR 575bn under Budget 2020-21"},"content":{"rendered":"\n<p>Islamabad: The International Monetary Fund (IMF) has proposed the imposition of PKR 575 billion in additional taxes under Budget 2020-21 to meet the revenue target of PKR 5,100 billion set during its recent round of negotiations with the government \u2013 a news source reported.\u00a0\u00a0<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/imf-proposes-pak-to-impose-new-taxes-in-budget-2020-21.html\" target=\"_blank\" rel=\"noreferrer noopener\">IMF propositions Pakistan to impose new taxes in Budget 2020-21<\/a><\/p>\n\n\n\n<p>According to an official of the Federal Board of Revenue (FBR), IMF has been briefed on the impact of the coronavirus on the economy, but any budgetary relief from its end would likely be postponed to next year\u2019s budget.<\/p>\n\n\n\n<p>The two parties, however, have made progress on the reforms proposed under the IMF\u2019s USD 6 billion Extended Fund Facility Programme (EFF); according to which the government will work on further tax integration and expanding the tax net. The fund has also proposed to the government to remove all unnecessary exemptions on taxations planned under Budget 2020-21.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/imf-consultations-on-tax-free-budget-2020-21-expected-after-eid-ul-fitr.html\" target=\"_blank\" rel=\"noreferrer noopener\">IMF consultations on \u2018tax-free\u2019 Budget 2020-21 expected after Eid-ul-Fitr<\/a><\/p>\n\n\n\n<p>Reportedly, important changes in audit laws are also being considered for inclusion under the budget\u2019s proposed framework. A modern IT-based automated system may also be introduced for the purpose.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The International Monetary Fund (IMF) has proposed the imposition of PKR 575 billion in additional taxes under Budget 2020-21 to meet the revenue target of PKR 5,100 billion set during its recent round of negotiations with the government \u2013 a news source reported.\u00a0\u00a0 Read: IMF propositions Pakistan to impose new taxes in Budget 2020-21 According to an official of the Federal Board of Revenue (FBR), IMF has been briefed on the impact of the coronavirus on the economy, but any budgetary relief from its end would likely be postponed to next year\u2019s budget. The two parties, however, have made progress on the reforms proposed under the IMF\u2019s USD 6 billion Extended Fund Facility Programme (EFF); according to which the government will work on further tax integration and expanding the tax net. The fund has also proposed to the government to remove all unnecessary exemptions on taxations planned under Budget 2020-21. Read: IMF consultations on \u2018tax-free\u2019 Budget 2020-21 expected after Eid-ul-Fitr Reportedly, important changes in audit laws are also being considered for inclusion under the budget\u2019s proposed framework. A modern IT-based automated system may also be introduced for the purpose.<\/p>\n","protected":false},"author":57,"featured_media":61048,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[29524],"persona":[],"class_list":{"0":"post-65643","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-imf-proposes-additional-taxes-worth-pkr-575bn-under-budget-2020-21","9":"cat-15015-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 additional taxes for Budget 2020-21 - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The International Monetary Fund (IMF) has proposed the imposition of PKR 575 billion in additional taxes under Budget 2020-21 to meet the revenue target of PKR 5,100 billion set during its recent round of negotiations with the government \u2013 a news source reported.\" \/>\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-additional-taxes-worth-pkr-575bn-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 additional taxes for Budget 2020-21 - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The International Monetary Fund (IMF) has proposed the imposition of PKR 575 billion in additional taxes under Budget 2020-21 to meet the revenue target of PKR 5,100 billion set during its recent round of negotiations with the government \u2013 a news source reported.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/imf-proposes-additional-taxes-worth-pkr-575bn-budget-2020-21.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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