The International Monetary Fund (IMF) is reportedly recommending that Pakistan's Federal Board of Revenue (FBR) expand the scope of profits tax to include virtual currencies.
According to a report in Pakistan's news outlet The News, the IMF has asked the FBR to incorporate cryptocurrency profits into the country's tax net.
The IMF has asked Pakistan's FBR to collect capital gains tax (CGT) to pay for the $3 billion bailout fund.
Additionally, the IMF recommended that the FBR consider taxing real estate and securities.
The IMF provided $3 billion in aid to stabilize Pakistan's hyperinflationary economy, which was at risk of default due to geopolitical tensions, natural disasters, and unstable governance.
The IMF began a four-day review of Pakistan starting March 14. If terms are agreed, about $1.1 billion in aid will be paid to Pakistan.
Almost a year ago, Pakistan's Minister of Finance and Revenue Aisha Ghaus Pasha announced that Pakistan would never legalize crypto trading. The government is currently seeking to tax virtual currency capital gains.
Late last year, Coinbase said Pakistan was among a growing list of countries where authorities have sent information requests to crypto exchanges.
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