![\"fbr\"](\"http:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2016\/12\/fbr.jpg\")
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The Federal Board of Revenue (FBR) has formally invited suggestions and proposals for preparing the upcoming Budget 2017-18. The last date to submit these proposals is January 15, 2015.
\nThe board has invited suggestions of stakeholders from chambers of commerce and industry, provincial bodies, bodies of trade and industry and regulatory authorities in this regard.<\/p>\n
Per FBR\u2019s instructions, the stakeholders are required to explain the financial impacts of their proposals. The proposal format, as instructed by FBR, should also mention relevant sections of the ordinance, the existing law, and the proposed amendment. In addition to that, the proposal must also be submitted along with the rationale for the proposed amendment and the expected financial impact on the national exchequer.<\/p>\n
Delving deeper into details, I came to know that the FBR has invited proposals from the Federation of Pakistan Chambers of Commerce and Industry Karachi, Overseas Investors Chamber of Commerce and Industry, Pakistan United Retailers Association, Pakistan Business Council, National Clearing Company of Pakistan Limited, American Business Council of Pakistan, Pakistan Bar Council, Institute of Cost and Management Accountants of Pakistan and Institute of Chartered Accountants of Pakistan.<\/p>\n
By inviting proposals and suggestions from the concerned bodies, the FBR is keeping its tradition alive, which is followed each year for the preparation of the annual budget. Budget preparation isn\u2019t an easy task and several legal, economic, and financial aspects are considered before a suggestion is approved.<\/p>\n
On behalf of the real estate sector, I must say that taxes related to the property sector should be revised by keeping in mind that property investors and buyers can choose to stay idle if they find the property tax a little too burdensome. In addition to introducing a friendly tax policy for different industries in the country, FBR should also fulfil its promise of revising the valuation tables it released on July 1, 2016 to collect property taxes.<\/p>\n
Let\u2019s hope that the Budget 2017-18 will prove to be favourable for the denizens of the country as well as the national exchequer.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Federal Board of Revenue (FBR) has formally invited suggestions and proposals for preparing the upcoming Budget 2017-18. The last date to submit these proposals is January 15, 2015. The board has invited suggestions of stakeholders from chambers of commerce and industry, provincial bodies, bodies of trade and industry and regulatory authorities in this regard. Per FBR\u2019s instructions, the stakeholders are required to explain the financial impacts of their proposals. The proposal format, as instructed by FBR, should also mention relevant sections of the ordinance, the existing law, and the proposed amendment. In addition to that, the proposal must also be submitted along with the rationale for the proposed amendment and the expected financial impact on the national exchequer. Delving deeper into details, I came to know that the FBR has invited proposals from the Federation of Pakistan Chambers of Commerce and Industry Karachi, Overseas Investors Chamber of Commerce and Industry, Pakistan United Retailers Association, Pakistan Business Council, National Clearing Company of Pakistan Limited, American Business Council of Pakistan, Pakistan Bar Council, Institute of Cost and Management Accountants of Pakistan and Institute of Chartered Accountants of Pakistan. By inviting proposals and suggestions from the concerned bodies, the FBR is keeping…<\/p>\n","protected":false},"author":18,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[3654],"persona":[],"class_list":{"0":"post-24425","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"tag-details-on-fbr-inviting-proposals-for-budget-2017-18"},"acf":[],"yoast_head":"\n