Provincial authorities meet IMF officials for tax issues

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ISLAMABAD: Provincial tax authorities have informed the International Monetary Fund (IMF) that the federation and provinces can resolve their taxation related issues within the existing constitutional framework, reported Business Recorder.

The IMF delegation and high-ups of provincial revenue authorities/boards, provincial excise and taxation departments and provincial board of revenue held a meeting here at the IMF office on Monday.

The IMF Technical Assistance mission comprising experts from Canada, Latin America and Spain met the provincial tax authorities, according to media reports.

The officials of Sindh Revenue Board (SRB) and Punjab Revenue Authority (PRA) made detailed presentations on the overall achievements of provinces in terms of revenue collection, services sector and other issues relating to the provinces. A senior official of the Khyber Pakhtunkhwa Revenue Authority was also present. The representative of Balochistan Revenue Authority did not participate in the meeting, claimed the report.

The provinces stated that the taxation-related issues between the federation and provincial revenue authorities/boards are being resolved while differences being removed.

During the presentation, the provinces highlighted provincial tax domain of the services sector, provincial autonomy and share of services sector into the Gross Domestic Product (GDP), and how the SRB/PRA have achieved their targets.

Under the provincial tax revenues, major contribution came from sales tax on services followed by stamp duties and motor vehicle tax.

The provincial authorities also said the coordination between the federal government and the provinces is also improving, media outlets reported.

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