KCCI proposals win FBR attention

KARACHI: Karachi Chamber of Commerce & Industry (KCCI) officials on Thursday held threadbare discussions on their budget 2019-20 proposals with chairman Federal Board of Revenue (FBR) and his team, a statement said.

A statement said the meeting reached consensus on various major issues and the FBR officials, while agreeing to most of KCCI’s budget proposals, assured the chamber’s office bearers of implementing the same in the upcoming budget.

The FBR Officials, while responding to KCCI’s proposal, also agreed to rationalise the tax structure for import of raw materials by commercial importers and manufacturers.

They also committed to review and curtail the discretionary powers vested to the officials of Inland Revenue which are a source of harassment and extortion of business and industrial community.