Govt Tells IMF: US-Iran Conflict Cost Pakistan Rs. 144 Billion in Tax Revenue
Notably, the federal administration has informed the visiting International Monetary Fund review mission that the US-Iran conflict and disruption in the Strait of Hormuz caused an estimated Rs.
Notably, the federal administration has informed the visiting International Monetary Fund review mission that the US-Iran conflict and disruption in the Strait of Hormuz caused an estimated Rs.
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- Despite the revenue impact, the Federal Board of Revenue assured the IMF that it expects to meet its first-quarter tax collection target of Rs.
- The IMF mission is continuing to assess the economic impact of the US-Iran conflict alongside Pakistan's fiscal and revenue performance during its ongoing review.
- The disruption in the Strait of Hormuz affected Pakistan's economy through higher fuel costs and weaker economic activity, according to the government's briefing to the IMF.
Administration office-holders noted the conflict pushed up fuel costs and slowed economic activity in Pakistan, affecting tax collection, particularly sales tax and withholding tax collected at the import stage.
FBR Assures IMF of Session Rs. 3.053 Trillion Q1 Tax Target.
In practice, the disruption in the Strait of Hormuz affected Pakistan's economy through higher fuel costs and weaker economic activity, according to the government's briefing to the IMF.
Despite the revenue impact, the Federal Board of Revenue assured the IMF that it expects to meet its first-quarter tax collection target of Rs. 3.053 trillion by September 30.
For context, the IMF mission is continuing to assess the economic impact of the US-Iran conflict alongside Pakistan's fiscal and revenue performance during its ongoing review. Stay Connected with ProPakistani.
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For now, govt Tells IMF: US-Iran Conflict Cost Pakistan Rs. 144 Billion in Tax remains the part of the story worth watching, and further updates are likely as more details are confirmed.
