We would like to inform you that Federal Board of Revenue (FBR) is currently engaged in the formulation of proposals for the Financial Bill 2020-21 and is seeking feedback particularly in the following areas:-
- Broadening of tax base for a wider participation in revenue generation efforts;
- Taxation of ream Income on progressive basis;
- Phasing out of tax concessions and exemptions;
- Removal of tax distortions and anomalies;
- Facilitation of taxpayers and ease of doing business;
- Promoting equity in taxation by introducing measures where incidence of tax is higher on affluent classes.