Islamabad: Chairman Federal Board of Revenue (FBR), Dr. Muhammad Ashfaq said Friday that many things related to taxes and International Monetary Fund (IMF) were twisted in reports.
Addressing a press conference to clear the board’s point of view, the FBR Chairman said IMF was a reality, however made it clear that many taxes that were claimed to have been levied were not actually imposed by the government.
Likewise the taxes that were shifted from one place to another were also misinterpreted, he said adding some changes were made to amend certain laws relating to taxes and duties through the Finance (Supplementary) Bill, 2021.
He was of the view that tax policy reforms were needed for a long time. However, during the previous regimes, whosoever interest groups came, they took their self-interested exemptions by making amendments in the laws and then they went away.
He said that the International Monetary Fund (IMF) has been demanding to improve the tax system to help the country increase its income to achieve self-sufficiency.
He said, every time whenever the country went into IMF programme, new taxes were imposed but the old exemptions, concerning certain economic group, were not touched upon and these remained embedded with the system.
The exemption will not be withdrawn just because it is a very politically unpopular decision.