Pakistan Finance Minister Miftah Ismail says IMF unhappy with income tax move
Islamabad: Pakistan's Finance Minister Miftah Ismail has said that the International Monetary Fund (IMF) has expressed dissatisfaction over the country's budget, The News reported on Sunday.
Ismail said the reason for the IMFs unhappiness was the failure of the government to implement the Personal Income Tax (PIT) measures suggested by it.
Addressing the post-budget news conference, Ismail said there was no development on the IMF front at the moment while admitting that there was no other choice for the Pakistan government but to take more tough decisions.
He said further changes would be made in budgetary allocations after 15 days.
The government did not jack up the tax rate on monthly income salary earnings of Rs 100,000 per month but took measures to slap increased taxes on property and wealthy people.
The government also introduced a fixed tax scheme for retailers by offering them to pay Rs 3000 to 10,000 per month and the FBR would bring 2.5 million [2,500,000] retailers into the tax net.
(With UNI inputs)