Pakistan ‘agrees’ to share tax evaders’ data with IMF

By Ali Imran

ISLAMABAD: Pakistan has agreed with the International Monetary Fund (IMF) to share the data of the tax evaders with the help of FBR, banks and NADRA, to improve the collection, citing well-placed sources in the finance ministry.
The agreement was reportedly reached during policy review talks between the IMF officials and Pakistan to release a $700 million loan tranche under SBA.
Sources said during the meeting with the international lender, the Federal Board of Revenue, banks, and the National Database and Registration Authority (NADRA) officials agreed upon the data sharing of the citizens evading taxes.
Pakistan briefed the IMF delegation that a detailed report of customers’ data will be dispatched in January 2024, the sources said.
The meeting also discussed improving the tax collection system and administration. Earlier, the sources said that IMF expressed satisfaction with the financial deficit and economic growth rate data provided by Pakistan during talks.
A briefing by the Ministry of Finance stated that on September 23, the volume of the economy reached Rs500,817 billion، and the financial deficit was reduced from the target of Rs 2525 billion to Rs964 billion۔
The Pakistani officials told the IMF officials that from July to September, the federation spent only Rs40 billion in the development budget, which the international lender appreciated.
Earlier, The International Monetary Fund (IMF) has expressed satisfaction with the economic progress made by Pakistan, to secure a $700 million loan tranche under SBA, citing well-placed sources. According to sources, the Ministry of Finance presented the economic data from July to September of the current fiscal year, which was agreed by the international lender.
Sources say the IMF has expressed satisfaction with the financial deficit and economic growth rate data provided by Pakistan during talks.
The Pakistani officials told the IMF officials that from July to September, the federation spent only Rs40 billion in the development budget, which the international lender appreciated.
During the meeting, the International Monetary Fund officials also applauded the performance of the Federal Board of Revenue (FBR) for collecting 25% more in taxes.
The IMF was told that during the July-September period, tax income remained at Rs2,042 billion, while the non-tax income collection was recorded at Rs453 billion.

According to sources, the IMF has expressed satisfaction with the accumulation of Rs 222 billion in the July-September tax under the petroleum levy and the efforts of Islamabad to contain the current account deficit.