IMF urges Pakistan to impose 18% GST on petrol and remove sales tax exemptions for revenue boost.
The International Monetary Fund (IMF) has urged Pakistan to impose an 18% General Sales Tax (GST) on petrol and remove sales tax exemptions on all items, including petroleum products. It also suggested the government levies sales tax over and above the existing Rs60 Petroleum Development Levy (PDL) to boost tax revenue. The IMF estimates that streamlining GST rates could contribute to 1.3% of Gross Domestic Product (GDP) revenue, amounting to approximately Rs1,300 billion for the national exchequer.
March 22, 2024
6 Articles