DOCSLIB.ORG

World Bank Document

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
World Bank Document Document of The World Bank FOR OFFICIAL USE ONLY Public Disclosure Authorized Report No: ICR00004988 IMPLEMENTATION COMPLETION AND RESULTS REPORT TF0A4946 ON A SMALL GRANT Public Disclosure Authorized IN THE AMOUNT OF USD 4.90 MILLION TO THE The Islamic Republic of Pakistan FOR Strengthening Tax Systems and Building Tax Policy Analysis Capacity (P161463) February 4, 2020 Public Disclosure Authorized Governance Global Practice South Asia Region Public Disclosure Authorized Regional Vice President: Hartwig Schafer Country Director: Patchamuthu Illangovan Regional Director: Zoubida Kherous Allaoua Practice Manager: Ismaila B. Ceesay Task Team Leader(s): Charles Victor Blanco, Muhammad Waheed ICR Main Contributor: K. Migara O. De Silva ABBREVIATIONS AND ACRONYMS BETF Bank Executed Trust Fund CPS Country Partnership Strategy EAD Economic Affairs Department EFF Extended Fund Facility FBR Federal Board of Revenue GDP Gross Domestic Product GoP Government of Pakistan IMF International Monitory Fund MDTF Multi Donor Trust Fund IP Implementation Progress ISR Implementation Status Report MMIU Market Monitoring and Intervention Unit MoF Ministry of Finance MS Moderately Satisfactory MU Moderately Unsatisfactory PAD Project Appraisal Document PDO Project Development Objective PRR Pakistan Raises Revenue PSDP Public Sector Development program RETF Recipient Executed Trust Fund TAGR Trust Fund for Accelerating Growth and Reforms TARP Tax Administration Reform Project TIU Tax Intelligence Unit TTL Task Team Leader WB World Bank TABLE OF CONTENTS DATA SHEET .......................................................................................................................... 1 I. PROJECT CONTEXT AND DEVELOPMENT OBJECTIVES ....................................................... 4 II. OUTCOME ...................................................................................................................... 7 III. KEY FACTORS THAT AFFECTED IMPLEMENTATION AND OUTCOME .................................. 9 IV. BANK PERFORMANCE, COMPLIANCE ISSUES, AND RISK TO DEVELOPMENT OUTCOME .... 9 V. LESSONS LEARNED AND RECOMMENDATIONS .............................................................. 10 ANNEX 1. RESULTS FRAMEWORK AND KEY OUTPUTS ........................................................... 12 ANNEX 2. PROJECT COST BY COMPONENT ........................................................................... 16 ANNEX 3. RECIPIENT, CO-FINANCIER AND OTHER PARTNER/STAKEHOLDER COMMENTS ...... 17 ANNEX 4. SUPPORTING DOCUMENTS (IF ANY) ..................................................................... 20 The World Bank Strengthening Tax Systems and Building Tax Policy Analysis Capacity (P161463) DATA SHEET BASIC INFORMATION Product Information Project ID Project Name Strengthening Tax Systems and Building Tax Policy P161463 Analysis Capacity Country Financing Instrument Pakistan Investment Project Financing Original EA Category Revised EA Category Organizations Borrower Implementing Agency The Islamic Republic of Pakistan Federal Board of Revenue Project Development Objective (PDO) Original PDO The PDO is to support policy informed decisions in domestic revenue mobilization. Key Results include 1) Produce annual comprehensive tax expenditure analysis 2) Forecast annual tax revenues of FBR and provincial governments Page 1 of 20 The World Bank Strengthening Tax Systems and Building Tax Policy Analysis Capacity (P161463) FINANCING FINANCE_TBL Original Amount (US$) Revised Amount (US$) Actual Disbursed (US$) Donor Financing TF-A4946 4,900,000 4,900,000 4,260,271 Total 4,900,000 4,900,000 4,260,271 Total Project Cost 4,900,000 4,900,000 4,260,271 KEY DATES Approval Effectiveness Original Closing Actual Closing 28-Apr-2017 02-Aug-2017 30-Apr-2018 31-Aug-2019 RESTRUCTURING AND/OR ADDITIONAL FINANCING Date(s) Amount Disbursed (US$M) Key Revisions 19-Mar-2018 0.00 Change in Results Framework Change in Loan Closing Date(s) Change in Procurement Change in Implementation Schedule 18-Apr-2019 0.28 Change in Results Framework Change in Loan Closing Date(s) Change in Procurement Change in Implementation Schedule KEY RATINGS Outcome Bank Performance M&E Quality Moderately Satisfactory Moderately Satisfactory Modest RATINGS OF PROJECT PERFORMANCE IN ISRs Actual No. Date ISR Archived DO Rating IP Rating Disbursements (US$M) 01 19-Sep-2017 Moderately Satisfactory Moderately Satisfactory 0.00 Page 2 of 20 The World Bank Strengthening Tax Systems and Building Tax Policy Analysis Capacity (P161463) Moderately 02 02-Aug-2018 Moderately Unsatisfactory 0.00 Unsatisfactory 03 04-Jun-2019 Moderately Satisfactory Moderately Satisfactory 0.28 ADM STAFF Role At Approval At ICR Regional Vice President: Annette Dixon Hartwig Schafer Country Director: Patchamuthu Illangovan Patchamuthu Illangovan Director: Deborah L. Wetzel Zoubida Kherous Allaoua Practice Manager: Alexandre Arrobbio Ismaila B. Ceesay Charles Victor Blanco, Task Team Leader(s): Charles Victor Blanco Muhammad Waheed ICR Contributing Author: K. Migara O. De Silva Page 3 of 20 The World Bank Strengthening Tax Systems and Building Tax Policy Analysis Capacity (P161463) I. PROJECT CONTEXT AND DEVELOPMENT OBJECTIVES Context 1. In Pakistan, domestic revenue mobilization has long been a key objective to financing sustainable development and providing the fiscal space to fund key public expenditures. The Government of Pakistan (GoP) recognizes the need for higher domestic revenue mobilization to ensure fiscal sustainability and fiscal space – as both are important for financing human capital development, infrastructure, health and other key public services. While Pakistan’s overall revenue mobilization has improved in recent years, several tax exemptions targeted towards specific industries and the low levels of tax collection by the provinces, among others, have led to a low tax-to-GDP ratio1. Pakistan’s Federal Board of Revenue (FBR) acknowledges that a tax-to-GDP ratio of 15 percent is achievable in the medium-term but will require a commensurate increase in the buoyancy of provincial tax bases2. 2. Pakistan’s economy grew at only 3.3 percent in Fiscal Year 2019 (FY19), with large financing received to correct fiscal imbalances. In FY18, there was a 5.5 percent consumption-driven growth while registering twin deficits. The exchange rate was then allowed to depreciate, the development budget was cut, and energy prices increased. To bridge the financing gap, the government received financing from the United Kingdom, Saudi Arabia, the United Arab Emirates, and China, in addition to $6 billion from the IMF. 3. Pakistan registered a consolidated fiscal deficit (excluding grants) of 5.0 percent of the GDP, which is an increase of 0.7 percent from last fiscal year. A slowdown in revenue growth and rigidity in recurrent expenditures contributed to the increase in the fiscal deficit. While tax revenues increased by 2.8 percent in July-March FY19, non-tax revenues declined by almost 17 percent, wiping out any noticeable growth in overall revenues3. One of the challenges faced by the Government of Pakistan (GoP) is that its growth in expenditure outpaces the growth in revenue, thereby limiting the fiscal space to make some of the critical public investments in infrastructure, human capital development, health etc. For instance, in FY18, the total revenue registered a lower growth of 5.9 percent compared to the same in FY17 while the expenditure increased by 10.1 percent 4. Consequently, public investment continued to decelerate for the first time since FY115. 4. At the start of the Trust Fund for Accelerating Growth and Reforms (TAGR) project6, the FBR’s analytical and reporting capabilities remained weak while its poor automation and the excessive use of withholding mechanisms, inefficient organizational structure, weak governance and strategic planning, inter alia, challenged the FBR’s ability to operate as an effective tax administration7. TAGR was also set up to support the Government’s economic reform agenda by addressing the knowledge gaps and strengthening the capacity of key institutions to design and implement a reform 1 It remains less than 15 percent of the GDP, a level considered to be minimum for developing countries in order to be able to finance their basic government functions. See: UN Committee of International Experts on International Cooperation in Tax Matters, The Role of Taxation and Domestic Resource Mobilization in the Implementation of the Sustainable Development Goals, October 2018, (page 3); V. Gaspar, L. Jaramillo and P. Wingender; and the IMF Working Paper 16/234, 2016, Tax Capacity and Growth: Is There a Tipping Point? (page 30). 2 Pakistan: Towards a Home-Grown Tax Reform Agenda, Federal Bureau of Revenue (FBR), October 8, 2018. 3 Pakistan Brief. Domestic Revenue Mobilization July 2019, World Bank 4 Provincial recurrent expenditure grew by 20 percent. 5 MDTF for Accelerating Growth and Reforms. Annual Report from July 1, 2018 to June 30, 2019; page 6. 6 TAGR is the Multi-Donor Trust Fund (MDTF) for Accelerating Growth and Reforms. 7 FBR’s HR management also remains a challenging issue, making it difficult to attract and retain high quality staff while its staff turnover remains high especially at the management levels. Due to these weaknesses, implementation of reforms remains challenging (see: Multi-Donor TF Report, December 14, 2018. Page 4 of 20 The World Bank Strengthening Tax Systems and Building Tax Policy Analysis Capacity (P161463) agenda. It was built on lessons learned from the 2005-11 Tax
Load more

Recommended publications
  • Pulling Back from the Abyss Institute of Public Policy
    IPP’s Third Annual Report 2010 State of The Economy: Pulling Back From the Abyss Institute of Public Policy Beaconhouse National University Copyright© by Institute of Public Policy Beaconhouse National University No part of this report is to published without permission Published by Institute of Public Policy Beaconhouse National University Printed by Cross Media [email protected] | www.crossmedia9.com +92 (42) 661 0240 | +92 (333) 450 1684 III Institute of Public Policy Beaconhouse National University nstitutional Institutional backing is absolutely essential to policy makers of today, to guide their Iactions in promoting development and peace. These are times of change and challenge. There is a need for policy makers to base the policies on sound analytical work. Therefore, The Beaconhouse National University established the Institute of Public Policy as an independent, private sector think tank for research on economic, social, political and foreign policy issues. IPP's mission is to; "work in the areas of importance for improving the welfare of the citizenry. Its work will focus in particular on public policies in areas of economics, social and political development, as well as on foreign policy". Key activities of the Institution include: independent and objective analysis of the economy; strategic analysis of the concepts and doctrines in selected areas of public policy; research in the areas that are important for regional cooperation; conduct seminars and workshops to bring together policy makers, experts and other members; undertake funded research projects and disseminate research findings with the view to enhance public awareness and contribute to debate on issues of public policy.
    [Show full text]
  • Project Information Document (PID)
    The World Bank Pakistan Revenue Mobilization Project (P165982) Public Disclosure Authorized Public Disclosure Authorized Project Information Document (PID) Appraisal Stage | Date Prepared/Updated: 22-Apr-2019 | Report No: PIDA26212 Public Disclosure Authorized Public Disclosure Authorized April 19, 2019 Page 1 of 18 The World Bank Pakistan Revenue Mobilization Project (P165982) BASIC INFORMATION OPS_TABLE_BASIC_DATA A. Basic Project Data Country Project ID Project Name Parent Project ID (if any) Pakistan P165982 Pakistan Revenue Mobilization Project Region Estimated Appraisal Date Estimated Board Date Practice Area (Lead) SOUTH ASIA 11-Apr-2019 30-May-2019 Governance Financing Instrument Borrower(s) Implementing Agency Investment Project Financing Economic Affairs Division Federal Board of Revenue Proposed Development Objective(s) Contribute to a sustainable increase in domestic revenue by broadening the tax base and facilitating compliance Components Results-based component: This component includes four areas of objectives: 1. Simple & coherent tax system, 2. Control of taxpayer obligations, 3. Compliance facilitation, 4. Institutional development Traditional IPF component: Upgrade of FBR's ICT systems PROJECT FINANCING DATA (US$, Millions) SUMMARY-NewFin1 Total Project Cost 1,500.00 Total Financing 1,500.00 of which IBRD/IDA 400.00 Financing Gap 0.00 DETAILS-NewFinEnh1 World Bank Group Financing International Development Association (IDA) 400.00 IDA Credit 400.00 Non-World Bank Group Financing April 19, 2019 Page 2 of 18 The World Bank Pakistan Revenue Mobilization Project (P165982) Counterpart Funding 1,100.00 Borrower/Recipient 1,100.00 Environmental and Social Risk Classification Moderate Decision The review did authorize the team to appraise and negotiate Other Decision (as needed) B.
    [Show full text]
  • Audit Report on the Accounts of Federal Board of Revenue (Inland Revenue) Audit Year 2013-2014
    AUDIT REPORT ON THE ACCOUNTS OF FEDERAL BOARD OF REVENUE (INLAND REVENUE) AUDIT YEAR 2013-2014 AUDITOR-GENERAL OF PAKISTAN TABLE OF CONTENTS Page ABBREVIATIONS & ACRONYMS i PREFACE v EXECUTIVE SUMMARY vii SUMMARY TABLES I Audit Work Statistics xi II Audit Observations Classified by Categories xi III Outcome Statistics xi IV Irregularities Pointed Out xii V Cost-Benefit xii CHAPTER-1 PUBLIC FINANCIAL MANAGEMENT ISSUES 1 CHAPTER-2 FEDERAL BOARD OF REVENUE 2.1 Introduction 7 2.2 Comments on Budget & Accounts 8 2.3 Brief Comments on the Status of Compliance with PAC Directives 13 COMPLIANCE WITH AUTHORITY AUDIT (AUDIT PARAS) CHAPTER-3 NON PRODUCTION OF RECORD 15 CHAPTER-4 IRREGULARITIES AND NON COMPLIANCE 4.1 Sales Tax 21 4.2 Refund of Sales Tax 46 4.3 Federal Excise Duty 53 4.4 Income Tax 58 4.5 Refund of Income Tax 76 4.6 Workers Welfare Fund 78 4.7 Expenditure 80 CHAPTER-5 INTERNAL CONTROL WEAKNESSES 95 Annexure 1 MFDAC 107 Annexure 2 AUDIT IMPACT SUMMARY 132 Annexures PERTAINING TO AUDIT PARAS 133 (3-61) ABBREVIATIONS & ACRONYMS AGP Auditor-General of Pakistan AGPR Accountant General Pakistan Revenue ADIA Additional Director Internal Audit AOP Association of Persons APPM Accounting Policies & Procedures Manual ATIR Appellate Tribunal Inland Revenue ACIR Assistant Commissioner Inland Revenue ACL Audit Command Language BCA Bank Credit Advice BOD Board of Directors BTB Broadening of Tax Base CAATs Computer Assisted Audit Techniques CAO Chief Accounts Officer CAP Collection Automation Process CBR Central Board of Revenue CGA Controller General
    [Show full text]
  • Pakistan's Institutions
    Pakistan’s Institutions: Pakistan’s Pakistan’s Institutions: We Know They Matter, But How Can They We Know They Matter, But How Can They Work Better? Work They But How Can Matter, They Know We Work Better? Edited by Michael Kugelman and Ishrat Husain Pakistan’s Institutions: We Know They Matter, But How Can They Work Better? Edited by Michael Kugelman Ishrat Husain Pakistan’s Institutions: We Know They Matter, But How Can They Work Better? Essays by Madiha Afzal Ishrat Husain Waris Husain Adnan Q. Khan, Asim I. Khwaja, and Tiffany M. Simon Michael Kugelman Mehmood Mandviwalla Ahmed Bilal Mehboob Umar Saif Edited by Michael Kugelman Ishrat Husain ©2018 The Wilson Center www.wilsoncenter.org This publication marks a collaborative effort between the Woodrow Wilson International Center for Scholars’ Asia Program and the Fellowship Fund for Pakistan. www.wilsoncenter.org/program/asia-program fffp.org.pk Asia Program Woodrow Wilson International Center for Scholars One Woodrow Wilson Plaza 1300 Pennsylvania Avenue NW Washington, DC 20004-3027 Cover: Parliament House Islamic Republic of Pakistan, © danishkhan, iStock THE WILSON CENTER, chartered by Congress as the official memorial to President Woodrow Wilson, is the nation’s key nonpartisan policy forum for tackling global issues through independent research and open dialogue to inform actionable ideas for Congress, the Administration, and the broader policy community. Conclusions or opinions expressed in Center publications and programs are those of the authors and speakers and do not necessarily reflect the views of the Center staff, fellows, trustees, advisory groups, or any individuals or organizations that provide financial support to the Center.
    [Show full text]
  • National Finance Commission Awards: a Challenge to Center Province Relations in Pakistan
    Journal of the Punjab University Historical Society Volume: 33, No. 02, July – December 2020 Rehana Saeed Hashmi * Aroosa Fatima** National Finance Commission Awards: A Challenge to Center Province Relations in Pakistan Abstract Timely and fair distribution of National Finance Commission award is not only essential for the survival of the federation, but it also strengthens the process of democratization. Historically, awards have not been regularly held on time and distributed at the expense of grave ethnic politics, party politics, unagreed formula of distribution, political instability and problematic center province relations. NFC is the constitutional body that is responsible for the distribution of resources and shares amongst the center and provinces. NFC is dealt under the Article 160 of the constitution 1973 that controls the resources, taxes, duties, or revenues in the “divisible pool”, which is to be further divided between the provinces upon an agreed formula. Unresolved financial matters within federations can instigate ethnic national tensions within state in the shape of intra provincial rivalry and resentments with the federation. NFC award holds a strategic importance and it should seldom postponed. Keywords: Centre-Province relations, federation, fiscal federalism, NFC, award distribution criteria, population, 18th Amendment Introduction The federal structure of Pakistan has been designed with strong central government in which the resources and functions are distributed among the federating units of country. Due to an ongoing perturbed mechanism of efficiency and distribution, there has been a long-standing debate on the share of resources between the federal government and federating units.1As per the actual division of finances and wealth, the federal government has practical hold in an unjust fiscal transfer to the provinces.
    [Show full text]
  • Social Incidence of Indirect Taxation in Pakistan (1990 – 2001)
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by OpenGrey Repository Social Incidence of Indirect Taxation in Pakistan (1990 – 2001) Saadia Refaqat A thesis submitted for the degree of Doctor of Philosophy University of Bath Department of Economics and International Development April 2008 COPYRIGHT Attention is drawn to the fact that copyright of this thesis rests with its author. This copy of the thesis has been supplied on condition that anyone who consults it is understood to recognise that its copyright rests with its author and that no quotation from the thesis and no information derived from it may be published without the prior written consent of the author. This thesis may be made available for consultation within the University Library and may be photocopied or lent to other libraries for the purposes of consultation. Singature: ______________________________________________________ I Table of Contents Table of Contents ..........................................................................................II List of Tables ........................................................................................... VI List of Figures .........................................................................................VIII Dedication ........................................................................................... IX Acknowledgments.........................................................................................X Abstract ..........................................................................................XII
    [Show full text]
  • Trade & Investment Guide
    HOW TO DO BUSINESS IN PAKISTAN? Trade & Investment Guide TRADE DEVELOPMENT AUTHORITY OF PAKISTAN MINISTRY OF COMMERCE December, 2020 Disclaimer This booklet provides basic knowledge to potential investors and exporters. The aim of this guide is to highlight the striking features of Pakistan’s emerging economy, liberal investment regime, export potential, newly amended Companies law (2017), revised Corporate tax legislation and initiatives/incentives introduced by Government of Pakistan for entrepreneurs and exporters. Information and statistics used are correct as of November 2020 and may be subject to change. For detailed and updated information regarding doing business in Pakistan, readers are advised to visit the official site of the concerned authorities. For any query or feedback regarding this document please contact at: Ms. Mehrun-Nisa Research Associate Trade Development Authority of Pakistan [email protected] ~ ii ~ Table of Contents Pakistan: In General .................................................................................. 1 Geography and Connectivity ............................................................................................................................................. 2 Demography ........................................................................................................................................................................... 2 Language ................................................................................................................................................................................
    [Show full text]
  • 1 Terms of Reference for a Review of Tax Administration in the Pakistan
    ANNEX 2: TERMS OF REFERENCE FOR THE TECHNICAL ASSISTANCE WORK Terms of Reference For a Review of Tax Administration in the Pakistan Federal Board of Revenue (FBR) I. Background Pakistan’s tax system has undergone significant reforms over the last two decades, leading to the modernization of direct and indirect taxes. More recent times have seen the rationalization of income tax rates, the introduction of self-assessment for filing income taxes, some expansion of consumption taxes, and the rationalization of the customs tariff structure with a reduction of tariff bands and maximum rates. Currently, the FBR is engaged in a comprehensive plan to re-structure and modernize the entire tax administration and customs operations. In addition, the FBR has taken a number of steps in the recent past to increase the number of taxpayers and broaden tax bases. However, Pakistan’s tax system continues to under-perform in some fundamental ways, in particular in its ability to raise adequate revenues, mainly because the bases of the most important taxes, personal and corporate income taxes and the General Sales Tax (GST), continue to be very narrow and the level of tax evasion remains quite high. In fact, the tax to GDP ratio has declined in recent times. On the other hand, most of the macroeconomic fiscal adjustment in recent years has been on the expenditure side of the budget. Some expenditure items such as defense spending tend to be higher in Pakistan than in other countries, but these are unlikely to change. At the same time, the country’s needs for spending on social services, such as education and health, and capital infrastructure are likely to increase in the near future as the Government pursues a strategy of sustained economic growth.
    [Show full text]
  • Federal Board of Revenue Anti-Money Laundering And
    FBR AML/CFT Guidelines for Dealers in Precious Metals and Stones (DPMS) Federal Board of Revenue Anti-Money Laundering and Counter Financing of Terrorism Guidelines for Dealers in Precious Metals and Stones January 2021 1 | P a g e FBR AML/CFT Guidelines for Dealers in Precious Metals and Stones (DPMS) Table of Contents Acronyms/terms ..................................................................................................................................................... 5 1. Introduction .................................................................................................................................................... 7 1.1 Purpose ................................................................................................................................................... 7 1.2 Target audience .................................................................................................................................... 7 1.3 Scope and terminology ........................................................................................................................ 7 1.4 Structure ................................................................................................................................................ 8 2. Background .................................................................................................................................................. 10 2.1 Why are DPMS required to comply with AML / CFT? .................................................................
    [Show full text]
  • Foreign Agricultural Investment Country Profile Pakistan
    Foreign Agricultural Investment Country Profile Pakistan REGION South Asia INCOME GROUP Lower middle income POPULATION 184 million 2 TOTAL AREA 796 095 km CAPITAL Islamabad LARGEST CITY Karachi GNI PER CAPITA US$1 000 OFFICIAL LANGUAGE English, Urdu MAJOR EXPORTS textiles, rice, leather goods, sports goods, MAJOR IMPORTS petroleum, petroleum products, machinery, plastics, transportation equipment, edible oils, paper and paperboard, iron and steel, tea. FAO Investment Policy Support FOREIGN AGRICULTURAL INVESTMENT PROFILE Pakistan PAGE ii The information and data in this information product are based solely upon information and data publicly available from international organizations, regional organizations, national governments and other sources. The Food and Agriculture Organization of the United Nations (FAO) declines all responsibility for errors and deficiencies in the information product. The designations employed and the presentation of material in this information product do not imply the expression of any opinion whatsoever on the part of FAO concerning the legal or development status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries. The mention of specific companies or products of manufacturers, whether or not these have been patented, does not imply that these have been endorsed or recommended by FAO in preference to others of a similar nature that are not mentioned. All rights reserved. FAO encourages the reproduction and dissemination of material in
    [Show full text]
  • TARP Tax Administration Reform Project TFC Taxpayer Facilitation Center TTL Task Team Leader UNDB United Nations Development Business VAT Value Added Tax
    Document of The World Bank Public Disclosure Authorized Report No: ICR00002147 IMPLEMENTATION COMPLETION AND RESULTS REPORT (IBRD-72640 IDA-40070 TF-54392) ON A CREDIT Public Disclosure Authorized IN THE AMOUNT OF SDR 53.3 MILLION (US$78.5 MILLION EQUIVALENT) A LOAN IN THE AMOUNT OF US$ 24.4 MILLION AND A GRANT IN THE AMOUNT OF GBP 12.152 MILLION TO THE ISLAMIC REPUBLIC OF PAKISTAN FOR A Public Disclosure Authorized TAX ADMINISTRATION REFORM PROJECT June 25, 2012 Governance and Public Sector Management Unit South Asia Region Public Disclosure Authorized CURRENCY EQUIVALENTS Exchange Rate in original PAD Currency Unit = Pakistani Rupee (PKR) PKR 1.00 = US$ 0.016 US$ 1.00 = PKR 61.05 Exchange Rate Effective May 15, 2012 US$ 1.00 = PKR 90.87 FISCAL YEAR July 1 – June 30 ABBREVIATIONS AND ACRONYMS ADR Alternate Dispute Resolution APL Adaptable Program Loan ATL Active Taxpayers List BS Basic-pay Scale CAS Country Assistance Strategy CBR Central Board of Revenue CCFR Cabinet Committee for Finance and Revenue CEG Customs and Excises Tax Group CPS Country Partnership Strategy DCA Development Credit Agreement DFID Department for International Development (UK) DLI Disbursement Linked Indicator DPL Development Policy Loan EAP East Asia and Pacific Region ECA Europe and Central Asia Region EMP Environmental Management Plan ERR Economic Rate of Return ERS Expeditious Refund System FATE Facilitation and Taxpayer Education FBR Federal Board of Revenue FM Financial Management FMR Financial Monitoring Report FRR Financial Rate of Return GDP Gross Domestic
    [Show full text]
  • Study on Tax Expenditures in Pakistan
    87103 Public Disclosure Authorized Public Disclosure Authorized Study on Tax Expenditures in Pakistan Ather Maqsood Ahmed and Robina Ather Public Disclosure Authorized Public Disclosure Authorized World Bank Policy Paper Series on Pakistan PK 21/12 January 2014 _______________________________________________ This publication is a product of the South Asia Poverty Reduction and Economic Management Unit. It is part of a larger effort by the World Bank to provide open access to its research and make a contribution to development policy discussions in Pakistan and around the world. Policy Working Papers are also posted on the Web at http://econ.worldbank.org. The authors may be contacted at [email protected] Abstract The paper provides a detailed assessment of tax expenditures in Pakistan, including an appropriate definition, framework and a methodology for measuring tax expenditures. The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development / World Bank and its affiliated organizations, or those of the Executive Directors of the World Bank or the governments they represent. Study on Tax Expenditures in Pakistan Ather Maqsood Ahmed and Robina Ather The authors would like to thank the World Bank for commissioning this study.
    [Show full text]