AGL 40.01 Increased By ▲ 0.01 (0.03%)
AIRLINK 127.10 Increased By ▲ 0.06 (0.05%)
BOP 6.60 Decreased By ▼ -0.07 (-1.05%)
CNERGY 4.46 Decreased By ▼ -0.05 (-1.11%)
DCL 8.55 No Change ▼ 0.00 (0%)
DFML 41.65 Increased By ▲ 0.21 (0.51%)
DGKC 86.99 Increased By ▲ 0.14 (0.16%)
FCCL 32.17 Decreased By ▼ -0.11 (-0.34%)
FFBL 64.75 Decreased By ▼ -0.05 (-0.08%)
FFL 10.15 Decreased By ▼ -0.10 (-0.98%)
HUBC 109.31 Decreased By ▼ -0.26 (-0.24%)
HUMNL 14.66 Decreased By ▼ -0.02 (-0.14%)
KEL 5.12 Increased By ▲ 0.07 (1.39%)
KOSM 7.18 Decreased By ▼ -0.28 (-3.75%)
MLCF 41.25 Decreased By ▼ -0.13 (-0.31%)
NBP 59.95 Decreased By ▼ -0.46 (-0.76%)
OGDC 194.60 Increased By ▲ 4.50 (2.37%)
PAEL 28.15 Increased By ▲ 0.32 (1.15%)
PIBTL 7.77 Decreased By ▼ -0.06 (-0.77%)
PPL 151.50 Increased By ▲ 1.44 (0.96%)
PRL 26.48 Decreased By ▼ -0.40 (-1.49%)
PTC 16.00 Decreased By ▼ -0.07 (-0.44%)
SEARL 78.25 Decreased By ▼ -7.75 (-9.01%)
TELE 7.46 Decreased By ▼ -0.25 (-3.24%)
TOMCL 35.40 Decreased By ▼ -0.01 (-0.03%)
TPLP 8.24 Increased By ▲ 0.12 (1.48%)
TREET 16.00 Decreased By ▼ -0.41 (-2.5%)
TRG 52.70 Decreased By ▼ -0.59 (-1.11%)
UNITY 26.55 Increased By ▲ 0.39 (1.49%)
WTL 1.25 Decreased By ▼ -0.01 (-0.79%)
BR100 9,936 Increased By 52.6 (0.53%)
BR30 30,901 Increased By 300.7 (0.98%)
KSE100 93,845 Increased By 489.8 (0.52%)
KSE30 29,082 Increased By 151.6 (0.52%)

The Federal Board of Revenue (FBR) has initiated budget exercise for 2008-09 fiscal and sought proposals from chambers, tax bars and business organisations for bringing improvement in the existing income tax laws, procedures and administration.
A letter, addressed to various organisations, said the exercise had been initiated to improve and streamline the income tax laws, procedures and administration.
The FBR requested the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), all chambers of commerce and industry and American Business Council to formulate their budget proposals regarding income tax and forward them to the Board by February 10 for consideration.
In a separate letter, addressed to the Institute of Chartered Accountants of Pakistan (ICAP) and all tax bar associations, the FBR requested them to forward their proposals, aimed at improving Income Tax Ordinance, 2001, procedures and administration.
The FBR added that the professionals/tax advisors held a vital position in our tax system and, therefore, the tax authorities welcomed and valued their suggestions. The FBR further requested them that the suggestions they might have with regard to mobilisation of more revenues and for improvement of the income tax laws, procedures and administration could be sent to the Board by February 10 for necessary consideration.

Copyright Business Recorder, 2008

Comments

Comments are closed.