{"id":48300,"date":"2019-01-29T17:40:42","date_gmt":"2019-01-29T17:40:42","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=48300"},"modified":"2020-01-27T07:52:19","modified_gmt":"2020-01-27T07:52:19","slug":"proposals-invited-for-budget-2019-20","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/proposals-invited-for-budget-2019-20.html","title":{"rendered":"Proposals invited for budget 2019-20"},"content":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) has invited proposals from stakeholders for inclusion in the budget 2019-20, a news source reported. FBR has requested for the submission of these recommendations by February 22.<\/p>\n<p>Read:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/fbr-proposes-provisional-assessment-to-recover-taxes.html\" target=\"_blank\" rel=\"noopener noreferrer\">FBR proposes provisional assessment to recover taxes<\/a><\/p>\n<p>As per the tax authority, all proposals should focus on broadening the tax base and increasing revenue collection. Suggestions for amendments in tax laws, rules, and notifications have also been welcomed.<\/p>\n<p>According to the FBR\u2019s guidelines, stakeholders should base their proposals on eliminating anomalies and difficulties within the existing tax framework. This will be helpful in abolishing outdated and obsolete provisions in the law. Additionally, the proposals must include a revenue-impact report of the suggested changes.<\/p>\n<p>Read:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/fbr-working-on-strategic-and-development-plan.html\" target=\"_blank\" rel=\"noopener noreferrer\">FBR working on strategic and development plan<\/a><\/p>\n<p>With these proposals, the FBR seeks to reduce tax fraud and the frequency of fake and flying invoices. Getting rid of certain loopholes in the law will facilitate genuine taxpayers, and pave the way for transparent procedures.<\/p>\n<p>The Board has also requested stakeholders to prepare the proposals while keeping in mind the plight of related trade groups. The proposed changes should not adversely impact them.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) has invited proposals from stakeholders for inclusion in the budget 2019-20, a news source reported. FBR has requested for the submission of these recommendations by February 22. Read:\u00a0FBR proposes provisional assessment to recover taxes As per the tax authority, all proposals should focus on broadening the tax base and increasing revenue collection. Suggestions for amendments in tax laws, rules, and notifications have also been welcomed. According to the FBR\u2019s guidelines, stakeholders should base their proposals on eliminating anomalies and difficulties within the existing tax framework. This will be helpful in abolishing outdated and obsolete provisions in the law. Additionally, the proposals must include a revenue-impact report of the suggested changes. Read:\u00a0FBR working on strategic and development plan With these proposals, the FBR seeks to reduce tax fraud and the frequency of fake and flying invoices. Getting rid of certain loopholes in the law will facilitate genuine taxpayers, and pave the way for transparent procedures. The Board has also requested stakeholders to prepare the proposals while keeping in mind the plight of related trade groups. The proposed changes should not adversely impact them.<\/p>\n","protected":false},"author":68,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[10174],"persona":[],"class_list":{"0":"post-48300","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"tag-details-on-proposals-invited-for-budget-2019-20"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Proposals invited for budget 2019-20 - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The Federal Board of Revenue (FBR) has invited proposals from stakeholders for inclusion in the budget 2019-20, a news source reported. FBR has\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/proposals-invited-for-budget-2019-20.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Proposals invited for budget 2019-20 - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The Federal Board of Revenue (FBR) has invited proposals from stakeholders for inclusion in the budget 2019-20, a news source reported. 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