KARACHI: The Federal Board of Revenue (FBR) on Tuesday asked the business community to submit their income tax proposals for the upcoming federal budget 2019/20.
The FBR issued a notification addressing Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and other chambers and associations to give their input for income tax proposals for the next budget.
The FBR said the proposals had been invited to benefit from collective wisdom of all the stakeholders for the improvement of the tax policy.
The business associations have been asked to submit their proposals by March 5, 2019. Focusing points included: improvement in tax laws; broadening of tax base for a wider participation in revenue generation efforts; enhancement of tax to GDP ratio; generation of revenue; facilitation of taxpayers; and removal of tax distortions and anomalies.