KARACHI: The Federal Board of Revenue (FBR) has sought proposals from the Pakistan Customs for the Budget 2016-17 relating to federal excise duty on broad parameters.
In this regard, Muhammad Zaheer Qureshi, Secretary ST&FE- Budget, has recently forwarded a letter to Member/Customs/Audit/Enforcement and Accounting, FBR Islamabad, Director General, Post Clearance Audit/ FBR Islamabad, Director General, Directorate General of Customs Valuation Karachi, Director General, Training and Research/Customs, Director General, Intelligence and Investigation Customs, Director General, Inspection and Internal Audit Customs Islamabad, asking the officers to submit the proposals not later than March 2, 2016.
According to letter, the budget proposals should be pro revenue. The proposals should focus on broadening the tax base and increase in revenue.
The amendments may be suggested in any of the following law/rules etc including Federal Excise Act, 2005, Federal Excise Rules, 2005, and Federal Excise/ Notifications/ Circulars/ General Orders/ Clarification/ Rules.
The amendments may be suggested with a view to achieve simplification, remove difficulties and anomalies, and to abolish any outdated/ obsolete provision. Wherever possible a draft proposed amendment/ procedure may be enclosed alongwith revenue impact.
