FBR invites budget proposals for sales tax, FED


ISLAMABAD: Federal Board of Revenue (FBR) has invited stakeholders to submit proposals in sales tax and federal excise duty for the upcoming budget. The FBR said the proposals should be pro-revenue.
In a notification issued on Thursday, the FBR asked tax officials and business community to submit their recommendations by February 22, 2018.
The FBR said that the budget 2018/2019 proposals should be: pro-revenue; focus on broadening the tax base and increase in revenue; and amendments may be suggested.
The notification said that the authorities would appreciate to receive proposals which would help in eliminating tax fraud, fake and flying invoices, plugging loopholes if any, facilitating genuine taxpayers and making the procedure transparent.
The proposals should be made keeping in view the consequences for the other related trade groups which might be adversely affected by the proposed measures.