The International Monetary Fund (IMF) has called on Pakistan to violate tax evasion in the real estate sector as talks are underway to release a $ 1 billion loan.
As part of the debate under the Billion 7 Billion Loan Program, Pakistan has assured the IMF that it will activate the real estate regulatory authority (RraRa) to enforce strict tax rules and regulations. Authorities have planned to impose a fine of those involved in reducing the property, which has been sentenced to Rs 200,000 to Rs 500,000 and up to three years.
The talks that run until March 15, 2025 include technical talks, followed by policy -level talks. The IMF will meet with the Ministry of Finance, the FBR, the Power Division, and the State Bank of Pakistan to review the tax reforms, including the measures to bring property taxes and retailers into the tax net. The delegation will also provide recommendations for the visitors
