FBR invites tax proposals for budget

KARACHI: The Federal Board of Revenue (FBR) on Tuesday invited proposals related to income tax for the Budget 2016/17 from all stakeholders, including chambers and associations.

In a notification issued, the revenue board said that it had initiated formulation of proposals for the Finance Bill and Budget 2016/17.

"In order to benefit from the collective wisdom of general public and all the stakeholders, including chambers of commerce and industry, trade and industrial bodies, provincial bodies and regulatory authorities, proposals have been invited for the upcoming budget," it said.

The FBR has invited budget proposals in a format, which should explains the financial impact of a proposal or an amendment is incorporated in the existing law.