Pakistan Property

FBR invites budgetary proposals on tax regime

Karachi: The Federal Board of Revenue (FBR) has invited budget proposals to curb tax fraud and fake and flying invoices, according to a news source. The FBR issued a notification for proposals on sales tax and federal excise duty for the Budget 2018-19. The aim is to plug loopholes, facilitate genuine taxpayers, and ensure transparency of procedures.

The notification asks the business community and tax departments to submit their recommendations by February 22. The board has asked the proposals to focus on growth, enhancement of revenue collection, and broadening of the tax base. The further aim will be to simplify the law and make it easier and more convenient

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