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KTBA asks FBR to issue explanatory circular

KTBA asks FBR to issue explanatory circular

KARACHI: The Karachi Tax Bar Association (KTBA) has urged the Federal Board of Revenue (FBR) to expedite the issuance of the much-awaited Annual Explanatory Circular for the clarification on important income tax amendments.

The KTBA has drawn the attention of Chairman FBR Dr Muhammad Jahanzeb Khan towards the delay in issuance of the annual explanatory circular which is normally made available within a period of one month after the finalisation of every budget into the Finance Act.

The tax bar stated that the annual explanatory circular is a detailed and comprehensive document on the income tax amendments and is one of the most awaited document from the FBR whereas taxpayers are apprised of the official clarification from the regulator over the budgetary amendments.