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IMF REVISES PAKISTAN'S TAX REVENUE TARGET TO US$6.9 BILLION.
ISLAMABAD, Sept 3 Asia Pulse - The International Monetary Fund (IMF) has finally agreed to revise Pakistan's tax collection target from Rs457 billion to Rs444 billion (US$6.9 billion) for the current financial year.
The government had earlier projected revenue collection of Rs457 billion in the budget to be collected in the current fiscal year.
The projection was made on the basis of the Rs406 billion targeted in the last fiscal year.
However, the Central Board of Revenue (CBR) barely managed to collect Rs393.9 billion, registering a shortfall of about Rs13 billion in the last year.
Visiting IMF officials have deducted the shortfall of Rs13 billion recorded in the last fiscal year from the net revenue collection which is to be collected in the current fiscal year.
The Central Board of Revenue collected Rs19.7 billion in July 2001, registering a seven per cent decline compared to the Rs21 billion tax collection during the corresponding month of the ...
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Source: HighBeam Research, IMF REVISES PAKISTAN'S TAX REVENUE TARGET TO US$6.9 BILLION.