FBR Issues Tax Submission Proposal Deadline


Islamabad: The Federal Board of Revenue (FBR) has urged foreign investors and multinational corporations to submit their budget proposals for the fiscal year 2024-25, according to a news source on February 23.

Read: FBR takes measures to safeguard taxpayers

As per the details, the FBR has set a deadline of March 11, 2024, for both field formations and the business community to present their suggestions related to Income Tax, Sales Tax, Federal Excise Duty, and ICT (Tax on Services) Ordinance, 2001.

Read: FBR reports 30% YoY growth in tax collection target

The FBR emphasised addressing challenges in Federal Tax Regulations (FTR) and outlined specific areas for proposals, including amendments to relevant ordinances and acts. The focus should be on strategies to combat tax avoidance, broaden the tax base, rectify procedural deficiencies, and enhance taxpayer facilitation.


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