LAHORE: Chairman Chemical Importers and Exporters Association Rao Khurshid Ali Khan has reported on the IMF’s insistence on raising taxes to meet the government’s target, saying any such move would hurt the economy. It will move to the ICU where it will not be possible to return, increasing FBR capacities to increase tax revenues and reduce tax rates. ReportBae { Current Affairs 6th Feb, 2020}

In his statement, he said that recovery of Rs 3250 billion was a difficult target by March 31, but at the request of the IMF, any decision on raising taxes to meet the target would not be acceptable to any sector. Before the number of taxes and the high rate of taxation, every segment is already facing problems which are having adverse effects on the economy.

He has also come forward on the issue of the FBR chief who needs to be removed. The government should increase the efficiency of the FBR to increase tax revenue and reduce tax rates so that the government can earn higher tax revenue than expected.

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