Chairman Federal Board of Revenue (FBR), Dr. Muhammad Ashfaq Ahmed, said on Friday that certain media reports misinterpreted various tax issues as many taxes which were reportedly imposed were in fact not levied.

Addressing a press conference, the Chairman FBR said the International Monetary Fund (IMF) was though a reality, many taxes claimed by media were not applied, adding that some taxes shifted from one place to another were also twisted in reports.

Dr. Ashfaq Ahmed pointed out that some changes were being made regarding tax laws through the Finance (Supplementary) Bill, 2021.

The tax reforms, he said, should have been made long ago. Nonetheless, in the previous regimes, tax exemptions were granted to specific interest groups instead of bringing a change in the tax laws.

He observed that the previous governments applied the taxes suggested by IMF, however, they left the tax exemptions on certain economic groups intact. This made the previous governments popular among such interest groups and it was done as it was right for their political interests, he added.

He mentioned that IMF always suggested and demanded tax reforms as it was the only way to move the economy to a sustainable position.

Source: Pro Pakistani