Grand budget parleys over: traders not allowed to discuss changes in tax rates

Business community was unable to discuss the proposed changes in the tax rates including sales tax, FED, customs duty, etc, during the final session of grand consultation on budget 2014-15 with the business stakeholders at FBR Auditorium, here on Saturday. It is learnt that the government ''discouraged'' the business community to discuss tax rates or taxation measures and budgetary proposals for upcoming budget, during the said meeting.
During the consultation process, the tax authorities conveyed to the business community that no discussion would be held on the revision of tax rates or changes in the existing tax rates. The Finance Minister reportedly informed the business community that the budge proposals would be approved by the Cabinet and later by the National Assembly and Senate. The due process would be followed and it would not be appropriate to discuss proposed tax rates at this forum.
The authorities further informed the representatives of the business and trade that the budget makers would not comment on the questions directly related to the proposed changes in the tax rates. Responding to this, the participants did not raise questions on the proposed changes in the tax rates in coming budget.
FBR Chairman Tariq Bajwa agreed to a proposal of the business community to issue sector specific tax booklets and guides for different sectors. This would be done to guide businessmen about the exact incidence of taxes on each sector after budget. It was pointed out that the new entrance and businessmen need guidance on the sector specific taxation so that they know the exact incidence of taxes to be paid. The sector-wise booklets would be issued after budget to facilitate each sector of the economy. The government would take input of business and trade and print the booklets after budget. Different sectors and associations presented their budget proposals during the grand consultation on budget.