FBR opposes IMF’s proposal of Rs176bln new tax on salaried class Business April 21, 2021 KARACHI: Government is resisting a proposal by the International Monetary Fund to cream off an additional Rs176 billion in tax revenue from salaried class in the upcoming budget for fiscal year 2021/22, people familiar with the matter said on Tuesday. The sources said various tax rates are under consideration to boost the salary income tax collection from existing Rs129 billion to Rs305 billion. That would make an additional Rs176 billion. The International Monetary Fund (IMF) had proposed the government to increase the revenue collection from salaried persons to Rs305 billion from existing Rs129 billion, in order to create room for development expenditures and reduce budget deficit, according to the sources.