ISLAMABAD: A delegation of Post Programme Monitoring Mission of International Monetary Fund, led by Harold Finger, met with Special Assistant to PM Revenue Haroon Akhtar Khan, on December 11, 2017.
The delegation held a detailed and fruitful discussion with SA to PM on different aspects of Pakistan’s economy, its growth and FBR’s contribution towards it. Finger lauded the efforts of the government, appreciating the healthy economic growth shown by Pakistan. Finger was appreciative of the momentum that was built last year and which has continued in this financial year also as indicated by sustained economic growth. The delegate specifically acknowledged the growth in revenue shown by FBR. Finger further recognized that such growth was remarkable as last year FBR had experienced revenue dip due to the tax concessions offered in the agricultural package, zero rating of inputs of five export-oriented sectors and the government’s decision of not passing on the effect of the increase in POL prices.
Haroon Akhtar pointed out the numerous policies, as well as operational initiatives, have been taken by FBR to create deterrence against tax evasion and avoidance. In this regard, Finger appreciated FBR’s role in introducing legislation such as Benami Act, its Anti-Smuggling and Anti Money Laundering operations.
Finger appreciated the increase in the number of tax filers and further emphasized the need to optimally utilise available third-party data for bringing more people in the tax net. At the same time, Finger also stressed the need to make concerted effort to take on policy issues to plug leakages and create more avenues for revenue collection. Finger also highlighted the simultaneous need for taxpayer facilitation, building trust and creation of tax culture along with revenue generating measures. He also pointed out the need to create coordination of Federal and Provincial revenue authorities and to harmonize processes.