KARACHI: The Federal Board of Revenue (FBR) has suggested setting Rs 3,700 billion as target for revenue collection during the upcoming fiscal year 2016-2017.
According to the source, the FBR while suggesting target of Rs 3,700 billion for the upcoming financial year has also asked to increase taxes of worth Rs 600 billion on different items in the budget.
It has been suggested to remain the customs duty as well as regulatory duty at 15 percent on the luxury items. On the other hand, tax on dairy products may be increased, source added.
The FBR is seriously analyzing the proposals and the suggestions from different departments with regards to the budget of next fiscal year 2016-2017, source maintained.
