The Federal Board of Revenue (FBR) has directed Collectors of Customs to submit customs-related budget proposals for 2016-17. The FBR has issued instructions to the Collectors of Customs here Wednesday. The FBR has also sought customs' budget proposals from all chambers of commerce and industry, associations and individuals. According to the FBR, the Board has invited customs-related budget proposals for the year 2016-17 These proposals may cover three areas ie changes in Customs Tariff rates, Rules/Procedures and Customs Act, 1969.

In order to enable the Customs Wing to properly process and evaluate each proposal, three separate formats for preparing the proposals on MS Excel Sheets was suggested. It was also suggested that while formulating the proposals, provision of the existing customs tariff rates/law may carefully be studied/consulted. Wherever required the proposal may be supported with the statistical data etc, so that it is not dropped on account of any such infirmity. It is requested that the proposals may be sent to the Board by January 25, 2016 positively through e-mail [[email protected]], followed by the hard copies, the FBR added.

Copyright Business Recorder, 2016