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FBR seeks tax proposals for upcoming budget (2018-19)

FBR seeks tax proposals for upcoming budget (2018-19)

ISLAMABAD: The Federal Board of Revenue (FBR) has sought proposals from all the stakeholders for upcoming Budget 2018-19, urging that the suggestions must reach the board by January 18.

“Federal Board of Revenue is engaged in formulation of proposals for Finance Bill 2018. In order to benefit from the collective wisdom of all stakeholders for the improvement of tax policy, proposals are invited for the upcoming budget 2018-19,” said FBR notification issued here.

The board had requested the stakeholders to give their input and suggestions in a specific format developed by FBR. The board had requested the stakeholders to give their proposals for improvement in tax laws, broadening of tax base for wider participation in revenue generation efforts, enhancement of tax to GDP ratio, generation of revenue and facilitation of taxpayers.

The board had requested that due to paucity of time, these proposals might be provided by January 18, 2018, as it would not be feasible to consider the proposals received after this timeline.

The board had asked the stakeholders to email their proposals in MS Word or Excell format on email addresses: chief.itp@fbr.gov.pk, secy.itb@fbr.gov.pk and ajazjoya@gmail.com.

The letter has been forwarded to all stakeholders including the Chambers of the country, American Business Council, Presidents of Stock Exchanges and other relevant stakeholders.