ISLAMABAD

The Federal Board of Revenue (FBR) has barred its officers from undertaking foreign trips till June 30, 2016 in order to accelerate its efforts to achieve the budgetary targets.

The FBR, which is struggling to achieve the annual target, has asked the respective heads of Field Formations not to forward leave applications to it for going abroad till 30th June, 2016.

“All such cases will be processed in the beginning of the next financial year,” the department said in a statement.

“It has been observed with concern that the Field Formations of FBR are forwarding requests for grant of ex-Pakistan leave on daily basis despite the fact that the third quarter of the current financial year is coming to an end and the entire tax machinery is required to accelerate its efforts to achieve the budgetary targets,” the statement added.

It is worth mentioning here that FBR has to collect Rs1300 billion from April to June of the ongoing financial year (2015-16)to meet the annual target of Rs3.1 trillion.

The FBR had provisionally collected Rs1800 billion during July-February period of 2015-16.

Budget proposals can now

be sent by March 18

The Federal Board of Revenue (FBR) has extended the deadline it gave to the stakeholders to send budget proposals for the upcoming financial year 2016-2017 till March 18. Earlier, the FBR had sought the proposals before March 2.

However, a large number of chambers of commerce and industries have still to submit the proposals, which has forced the department to extend the deadline.

The proposals, regarding the General Sales Tax and Federal Excise Duty, were sought through two letters, the FBR wrote to its field officers and businessmen.

In the letters, it asked that the proposals should be pro-revenue, focus on broadening the tax base, and that amendments might be suggested with a view to achieve simplification, remove difficulties and anomalies and abolish any outdated provisions.