{"id":70653,"date":"2020-09-19T10:05:00","date_gmt":"2020-09-19T05:05:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=70653"},"modified":"2020-09-18T10:12:24","modified_gmt":"2020-09-18T05:12:24","slug":"punjab-allowed-borrow-funds-wb-tax-reforms","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/punjab-allowed-borrow-funds-wb-tax-reforms.html","title":{"rendered":"Punjab allowed to borrow funds from WB for introducing tax reforms"},"content":{"rendered":"\n<p>Islamabad: The federal government on Wednesday granted permission to the Punjab government to borrow USD 304 million (PKR 50 billion) from the World Bank (WB) \u2014 with the funds expected to be utilized for the introduction of tax reforms in the province, according to a news story published on September 17.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/fbr-brief-pm-tax-reforms-benami-properties.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR to brief PM on tax reforms, benami properties<\/a><\/p>\n\n\n\n<p>In this regard, the Central Development Working Party (CDWP) approved a concept clearance paper for the Punjab Resource Improvement and Digital Effectiveness Programme (PRIDE). Under the programme, the government is planning on initiating tax reforms in the province, and instituting various measures to increase tax collection \u2014 including efforts to expand the tax net.<\/p>\n\n\n\n<p>The clearance paper further stated that the proposed loan would make taxation more progressive, facilitate taxpayers, improve ease of doing business in the province, and reduce interactions between the tax payers and tax collectors.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/tax-reforms-consultation-with-stakeholders-underway-pm.html\" target=\"_blank\" rel=\"noreferrer noopener\">Tax reforms in consultation with stakeholders underway: PM<\/a><\/p>\n\n\n\n<p>Reportedly, the government is looking to acquire USD 30 million of the total WB funds in the form of a grant. However, the terms are yet to be finalised in this regard.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The federal government on Wednesday granted permission to the Punjab government to borrow USD 304 million (PKR 50 billion) from the World Bank (WB) \u2014 with the funds expected to be utilized for the introduction of tax reforms in the province, according to a news story published on September 17. Read: FBR to brief PM on tax reforms, benami properties In this regard, the Central Development Working Party (CDWP) approved a concept clearance paper for the Punjab Resource Improvement and Digital Effectiveness Programme (PRIDE). Under the programme, the government is planning on initiating tax reforms in the province, and instituting various measures to increase tax collection \u2014 including efforts to expand the tax net. The clearance paper further stated that the proposed loan would make taxation more progressive, facilitate taxpayers, improve ease of doing business in the province, and reduce interactions between the tax payers and tax collectors. Read: Tax reforms in consultation with stakeholders underway: PM Reportedly, the government is looking to acquire USD 30 million of the total WB funds in the form of a grant. However, the terms are yet to be finalised in this regard.<\/p>\n","protected":false},"author":57,"featured_media":60311,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[39762,39763,1109],"persona":[],"class_list":{"0":"post-70653","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-digital-governance","9":"tag-punjab-allowed-to-borrow-funds-from-wb-for-introducing-tax-reforms","10":"tag-tax-reforms","11":"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>Punjab allowed to borrow funds from WB for tax reforms - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The federal government on Wednesday granted permission to the Punjab government to borrow USD 304 million (PKR 50 billion) from the World Bank (WB) \u2014 with the funds expected to be utilized for the introduction of tax reforms in the province, according to a news story published on September 17.\" \/>\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\/punjab-allowed-borrow-funds-wb-tax-reforms.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Punjab allowed to borrow funds from WB for tax reforms - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The federal government on Wednesday granted permission to the Punjab government to borrow USD 304 million (PKR 50 billion) from the World Bank (WB) \u2014 with the funds expected to be utilized for the introduction of tax reforms in the province, according to a news story published on September 17.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/punjab-allowed-borrow-funds-wb-tax-reforms.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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