Pakistan, March 24 -- The International Monetary Fund (IMF) has turned down the Federal Board of Revenue's (FBR) request to reduce property transaction taxes. Initially, officials had expected a 2% reduction in withholding tax on property buyers starting from April 2025. However, the IMF confirmed that it will not approve the reduction at this time.

In addition to rejecting the property tax cut, the IMF also declined requests to lower taxes on tobacco and beverages. The IMF emphasized that these decisions are crucial for Pakistan's ongoing negotiations to meet fiscal goals. These discussions are part of the ongoing efforts to finalize a Staff Level Agreement (SLA).

The IMF has made it clear that Pakistan must provide assurances that pro...