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Business Economy Pakistan Trending Now

IMF Recommends Implementation of New System to Bring New People into Tax Net

Islamabad: The International Monetary Fund (IMF) has recommended Pakistan to implement the latest Track and Trace system to prevent tax evasion and bring new people into the tax net.

According to official sources, following the IMF’s recommendation, Prime Minister Shahbaz Sharif has decided to personally oversee the matter by monitoring the functioning of the Federal Board of Revenue (FBR) and directed authorities to fully comply with the conditions agreed upon with the IMF.

According to a report from private TV channels, when contacted, FBR officials stated that the gradual implementation of the Track and Trace system in various sectors is underway, and further expansion of its scope is in progress.

The report from the Ministry of Finance also revealed that the IMF has highlighted flaws in the Track and Trace system and, based on this, has demanded complete implementation of this new system across all sectors, expressing dissatisfaction with the ongoing implementation under the supervision of the FBR.

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