Inside Financial Markets
IMF underscores the need for mass scale Tax Reforms - Inside Financial Markets

IMF underscores the need for mass scale Tax Reforms

Teressa Daban Sanchez of IMF has asked GoP to embark upon massive tax reforms without indulging in further delays.
These are the key notings of the observations and directives :

1- GoP should reduce subsidies or incentives on Taxes

2- PKR must be Rupee strengthened against dollar

3- Pakistan must comply with FATF conditions

4- GoP must work to reduce Debt and guarantees which has exceeded 90% of the GDP

5- Pakistan must meet the five conditions of IMF loan which include: Economic sustainability, Pakistan has to increase tax collection, and halt tax evasion

Pakistan to take steps to curb money laundering, controlling exchange rate
Pakistan has to curb on circular debt and should freeze the overall energy related debt
IMF is not dictating Pakistan on autonomy of SBP
IMF wants Pakistan to reforms at state-run institutions
Pakistan could get more funding following surfacing of third wave of corona

Syed Zaki Hussain

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