Islamabad:
The IMF focused on additional tax measures and the balance of the NFC award, the government accelerated efforts to remove the salaried class and real estate sector.
According to sources, the government has suggested increasing immunity for the salaried class by 6 to 12 lakhs and the new tax slab rates 10,25, 33 and 35 %, in the view of the IMF, it will have a significant impact on revenue, in a separate session, the tax burden on the salaried class is reduced.
The IMF called on the authorities to seek their experts instead of relying on the ground facts or the Leafer Crow Crow tax theory.
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Sources said that in the meeting with Finance Minister Mohammad Aurangzeb for the approval of the budget, the retired IMF Mission Chief Nathan Porter restricted the focus to four sectors.
It is to balance the distribution of financial resources under the NFC Award without impacting measures for the first 14.307 trillion tax targets and the constitutional scheme, the remaining two sectors will be saved from downs sizing and the privatization agenda of the next fiscal year.
Sources said that the government has no financial scope for giving remarkable relief to the real estate sector. The sales tax on packet milk was also discussed, but no decision has been made yet.
