The Federal Board of Revenue (FBR) has started budget preparation exercise for 2017-18. According to the FBR's instructions issued to all chambers and federations here on Wednesday, FBR has initiated formulation of proposals for Finance Bill/ Budget 2017-18. In order to benefit from collective wisdom of the general public and all the stake holders including Chambers of Commerce & Industry, bodies of trade and industry, provincial bodies and regulatory authorities, proposals are invited for the upcoming Budget 2017-18.

The input/suggestions on the specified format shall be highly appreciated as a genuine contribution towards improvement of tax policy. The FBR added that it is requested that these proposals may be provided by January 15, 2017.

Copyright Business Recorder, 2016