FBR seeks proposals from business community
Recommendations to be considered while preparing the next federal budget
PHOTO: FILE
ISLAMABAD:
The Federal Board of Revenue has sought recommendations from the business community on phase-wise withdrawal of tax exemptions, expansion of the tax net and removing anomalies from the taxation system for the next federal budget.
In a letter written to the Federation of Pakistan Chambers of Commerce and Industries (FPCCI) and other chambers, the FBR has sought proposals before the finalisation of the federal budget 2020-21.
“Currently, the board is busy formulating the proposals for the Finance Bill 2020. And to benefit from the collective wisdom of the stakeholders in order to improve the tax policy, proposals are invited for the new budget of 2020-21,” the letter read.
The step, according to the FBR, is aimed at streamlining the country’s future tax policy as per the expectations of the business community and other stakeholders.
The suggestions related to income tax must be submitted to the FBR till February 7 as per the specified format according to which every proposal must be supported with a rationale and its implications on the budget, the FBR’s revenue and tax laws.
The recommendations must be in a word document or excel spreadsheet format and could be delivered via email or a courier service. The FBR has encouraged stakeholders to suggest ways to have a more progressive taxation system and propose tax incentives aimed at improvement in ease of doing business,” the letter read.
“The proposals should focus on: (I) improvement in tax laws, (II) broadening of tax base for a wider participation in revenue generation efforts, (III) enhancement of tax-to-GDP ratio, (IV) generation of revenue, (V) facilitation of taxpayers and (VI) removal of tax distortions and anomalies.”
The functioning of the FBR has been disturbed by its chief going on a medical leave for the second time in a month.
A day earlier, the government notified the appointment of Nausheen Javaid Amjad, a grade-22 officer, as the acting chairperson of FBR in the absence of its Chairman Shabbar Zaidi.
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Zaidi has left on a two-week leave. His application for leave on medical grounds was sent to Dr Abdul Hafeez Shaikh, the prime minister’s adviser on finance.
After Zaidi left for his residence in Karachi, Nausheen Javaid Amjad had a meeting with the adviser.
After the meeting, the FBR notification – No 0184-IR-I / 2020 – was issued. It said Nausheen Javaid Amjad, Member, Admin, would look after matters as the FBR chairperson during the time Zaidi is on leave.
Earlier, when Zaidi went on a 14-day medical leave, Nausheen Amjad was given the charge of acting FBR chairperson. There are rumours about differences between Zaidi and Shaikh and FBR sources indicate that Zaidi’s leave could be extended after two weeks.
The sources said that a few days ago during a visit to the FBR, Shaikh had expressed his dissatisfaction over Zaidi’s performance. He raised questions about the matters under the deal with traders, including the registration of traders with point of sales.
However, officials close to the matter said this was done with mutual understanding between Shaikh and Zaidi and the purpose was to send a strong message to the members as Zaidi faced the issue of non-cooperation from some FBR members.
Due to this, Zaidi himself had suggested to Shaikh that all members should be reprimanded so that all members could get a clear message.
The Federal Board of Revenue has sought recommendations from the business community on phase-wise withdrawal of tax exemptions, expansion of the tax net and removing anomalies from the taxation system for the next federal budget.
In a letter written to the Federation of Pakistan Chambers of Commerce and Industries (FPCCI) and other chambers, the FBR has sought proposals before the finalisation of the federal budget 2020-21.
“Currently, the board is busy formulating the proposals for the Finance Bill 2020. And to benefit from the collective wisdom of the stakeholders in order to improve the tax policy, proposals are invited for the new budget of 2020-21,” the letter read.
The step, according to the FBR, is aimed at streamlining the country’s future tax policy as per the expectations of the business community and other stakeholders.
The suggestions related to income tax must be submitted to the FBR till February 7 as per the specified format according to which every proposal must be supported with a rationale and its implications on the budget, the FBR’s revenue and tax laws.
The recommendations must be in a word document or excel spreadsheet format and could be delivered via email or a courier service. The FBR has encouraged stakeholders to suggest ways to have a more progressive taxation system and propose tax incentives aimed at improvement in ease of doing business,” the letter read.
“The proposals should focus on: (I) improvement in tax laws, (II) broadening of tax base for a wider participation in revenue generation efforts, (III) enhancement of tax-to-GDP ratio, (IV) generation of revenue, (V) facilitation of taxpayers and (VI) removal of tax distortions and anomalies.”
The functioning of the FBR has been disturbed by its chief going on a medical leave for the second time in a month.
A day earlier, the government notified the appointment of Nausheen Javaid Amjad, a grade-22 officer, as the acting chairperson of FBR in the absence of its Chairman Shabbar Zaidi.
In new twist to Justice Isa case, his wife appears before FBR
Zaidi has left on a two-week leave. His application for leave on medical grounds was sent to Dr Abdul Hafeez Shaikh, the prime minister’s adviser on finance.
After Zaidi left for his residence in Karachi, Nausheen Javaid Amjad had a meeting with the adviser.
After the meeting, the FBR notification – No 0184-IR-I / 2020 – was issued. It said Nausheen Javaid Amjad, Member, Admin, would look after matters as the FBR chairperson during the time Zaidi is on leave.
Earlier, when Zaidi went on a 14-day medical leave, Nausheen Amjad was given the charge of acting FBR chairperson. There are rumours about differences between Zaidi and Shaikh and FBR sources indicate that Zaidi’s leave could be extended after two weeks.
The sources said that a few days ago during a visit to the FBR, Shaikh had expressed his dissatisfaction over Zaidi’s performance. He raised questions about the matters under the deal with traders, including the registration of traders with point of sales.
However, officials close to the matter said this was done with mutual understanding between Shaikh and Zaidi and the purpose was to send a strong message to the members as Zaidi faced the issue of non-cooperation from some FBR members.
Due to this, Zaidi himself had suggested to Shaikh that all members should be reprimanded so that all members could get a clear message.