Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin on Friday said the government will not impose any new taxes in the upcoming 'mini budget', but it will withdraw some tax exemptions given to various sectors to increase revenue. We will not allow [the IMF] to impose more taxes on people who are already paying them." Tarin said the IMF had asked Pakistan regarding the tax exemptions which 'distorted' the tax system and added that the fund's arguments were valid on such exemptions. The finance adviser said the IMF asked Pakistan to give ‘targetted subsidies’ with an across-the-board sales tax rate of 17 per cent. Rupee will 'move on both sides'During the talk, Tarin also warned ‘speculators’ whom he blamed for a disproportionate exchange rate.

Source: The Express Tribune November 26, 2021 09:29 UTC