ISLAMABAD: Federal Board of Revenue (FBR), refuting some media reports, has explained that the dialogue with International Monetary Fund (IMF) in Dubai was completely successful as the desired objectives were achieved during the meeting.
The FBR, in a press statement here, contradicted news published in a section of the press regarding failure of the dialogue and that the plans to implement the proposed Single Stage Sales Tax had been shelved on the IMF’s advice.
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It clarified that a delegation of FBR and Tax Reforms Commission held a Tax Policy Dialogue with the tax policy experts from the Fiscal Affairs Department of IMF in Dubai (United Arab Emirates).
Various aspects of the matters relating to tax policy under the Customs, Sales Tax and Income Tax laws in Pakistan were discussed in the light of international best practices, it added. The FBR said the purpose of the dialogue was not to obtain approval or concurrence for any specific policy option which was neither required nor was sought.
The dialogue was aimed at an exchange of views between the FBR and international tax policy experts in an attempt to gain insight from the varied experiences of the world, it added. The dialogue, the statement said, was completely successful and the desired objectives were achieved.
The statement said the government was fully committed to provide ease of doing business for the business community and would not hesitate to accept any proposal that would facilitate the taxpayers without compromising the revenue streams. It again denied the reports that the proposed Single Stage Sales Tax was not approved and that any approval in this connection was solicited from the IMF.
