IMF Pushes for Simpler Income Tax Structure and Removing Exemptions to Raise Rs500 Billion
- IMF proposes cutting income tax slabs from 7 to 4 to increase revenues
- Estimates additional annual revenues of 0.5% of GDP, about Rs500 billion
- Seeks to remove exemptions and preferential treatments
- Aims to increase tax burden on salaried and non-salaried classes
- Wants to tax pension contributions or benefits which are currently exempt
