ISLAMABAD: The Federal Board of Revenue (FBR) has invited the business and trade community to submit budget proposals aimed at increasing the tax contribution of affluent segments of society as preparations begin for the federal budget of the new fiscal year.
In a statement, the FBR said it has decided to start the budget-making process earlier than usual to improve policy formulation and reduce procedural pressures at later stages. As part of this process, work on proposals for the Finance Bill 2026 has already begun.
The tax authority said it is seeking input from stakeholders to benefit from their experience and ideas in shaping more effective and balanced tax policies for the upcoming budget.
According to the FBR, key areas for suggestions include broadening the tax base to ensure wider participation in revenue generation, bringing the entire business value chain into the sales tax (GST) regime, and promoting progressive taxation so that higher-income and affluent groups bear a greater share of the tax burden.
Other focus areas include phasing out unnecessary tax exemptions and concessions, simplifying tax laws to improve ease of doing business, facilitating taxpayers by removing redundant procedures, and reducing tax distortions and loopholes that encourage arbitrage.
The FBR clarified that the listed areas are indicative and not exhaustive, adding that proposals should be practical, clear, and capable of implementation through amendments to existing tax laws.
